An Attorney's Guide to the Collection of Bad Debts: 3Rd Edition

By Robert L. Lewis and Abraham J. Perlstein

An Attorneys Guide to the Collection of Bad Debts is meant to give readers a broad overview of debt-collection techniques, as well as to inform them of some popular debt-collection techniques used by attorneys. The reader should consider this book a type of debtcollection techniques catalog.

We authored this third edition so that it can be read easily and quickly during a days commute to and from work. This second edition also contains revised copies of sample legal forms used to facilitate the collection of bad debts.

After reading this book, you will become aware of certain collection techniques, so that you can make an informed discussion with an attorney about potential options available to you.

This book is not to be considered legal advice, and is meant for general information purposes only. This book is not a substitute for the advice of legal counsel.

• Language: English
• Publisher: iUniverse
• Release date: Oct 9, 2013
• ISBN: 9781491703595

Robert L. Lewis

Robert L. Lewis, Esq. is an attorney who has specialized in the collection of bad debts in New York City for almost 30 years through his creditors’ rights and commercial litigation practice. The Law Offi ces of Robert L. Lewis are located at 315 West 70th Street, New York, N.Y. 10023, and their main telephone number is: [phone] Abraham J. Perlstein is an attorney with broad legal practice which includes the collection of bad debts, commercial litigation, and commercial and technology contracts. The Law Offi ce of Abraham J. Perlstein, Esq. is located at 1546 East 22nd Street Brooklyn, N.Y. 11210 and the main number is [phone]

Book preview

An

Attorney’s

Guide

to the

Collection

of

Bad Debts

3rd Edition

Robert L. Lewis, Esq.

and

Abraham J. Perlstein, Esq.

iUniverse LLC

Bloomington

An Attorney’s Guide to the Collection of Bad Debts:

3rd Edition

Copyright © 2013 by Robert L. Lewis, Esq. and Abraham J. Perlstein, Esq.

All rights reserved. No part of this book may be used or reproduced by any means, graphic, electronic, or mechanical, including photocopying, recording, taping or by any information storage retrieval system without the written permission of the publisher except in the case of brief quotations embodied in critical articles and reviews.

The information, ideas, and suggestions in this book are not intended to render legal advice. Before following any suggestions contained in this book, you should consult your personal attorney. Neither the author nor the publisher shall be liable or responsible for any loss or damage allegedly arising as a consequence of your use or application of any information or suggestions in this book.

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ISBN: 978-1-4917-0358-8 (sc)

ISBN: 978-1-4917-0359-5 (e)

Library of Congress Control Number: 2013914580

iUniverse rev. date: 08/29/2013

Contents

INTRODUCTION

How to Use this Book

CHAPTER 1

TYPES OF BAD DEBT CASES

A.   A Consignment Becomes A Sale

B.   Inferior Goods

C.   It’s Never Good Enough

D.   A Sale Becomes A Consignment

E.   A Customary Practice is Now Changed

F.   A Loan Becomes An Equity investment

Chapter 2

WHAT YOUR LAWYER SHOULD TELL YOU

A.   A Judgment Does Not Mean You Won

B.   Business Judgment Is As Critical As Legal Knowledge

C.    No One Can Predict the True Outcome

D.    Contingency Fees with an Attorney

Chapter 3

RULES OF THUMB

A.    You Are Rarely the Only Creditor

B.    Speed Counts

C.    Better A Fight Than A Surrender

D.   Assets Are Never Real

E.    Going Concerns Should Be Kept Alive

F.    Only Fools Are Frightened by Letters

G.    Keep Copies of Checks Received

H.    Litigation is An Alternative Form of Negotiation

I.    Your Adversary Has Already prepared For The Lawsuit

J.    Always Try to Work It Out

K.    Always Use Local Counsel

Chapter 4

TYPES OF LEGAL VENUES

A.    Federal Court

B.    State Court Procedures

Chapter 5

HOW TO ENFORCE YOUR MONEY JUDGMENT

A.    Supplementary Proceedings

B.    Subpoenas

C.    Information Subpoenas

D.    Investigators

E.    Enforcement Proceedings

F.    Restraining Notices

G.    Income Executions

H.    Property Executions

I.    Turnover Proceedings

J.    City Marshal or Sheriff

Chapter 6

SECURITY INTERESTS

A.    Types of Security Interest

B.    Security Interests On Personal Property

C.    Security interests on Real Property

Chapter 7

RATIONALIZATION OF ACCOUNTS PAYABLE

Chapter 8

STRATEGIES FOR SUCCESS

A.    Knowledge is Power

B.    Business Decisions

C.    Good Cop—Bad Cop

D.    Payment Over Time

E.    Seeking Other Creditors

F.    Bankruptcy

G.    Safe Court Remedies

H.    Flexibility Is Critical

I.    Both Attorney And Client Must Understand Each Other

Chapter 9       ASSET PROTECTION TRUSTS

A.   Asset Protection Trust (APT)

B.   How To Attack An Asset Protection Trust

Chapter 10       FORMS

A.    Civil Court Forms

B.    Service of Summons

C.    Subpoenas

D.    Stipulations

E.    Preliminary Conferences

About the Authors

Robert L. Lewis, Esq.

Abraham J. Perlstein, Esq.

INTRODUCTION

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