Baltimore Attorney Protects Creditors’ Rights in Debt Recovery

Maryland lawyer provides guidance to businesses collecting from debtors

At the Law Offices of John L. Friedman, I help clients facing losses due to debtor defaults or bankruptcies. If you are facing difficult collection problems in Baltimore and Baltimore County, I can advise on how your organization can avoid absorbing a total loss. Whether you are pursuing a debtor entering bankruptcy or otherwise trying to collect consumer, commercial, construction or other type of secured or unsecured debt, I will pursue all avenues of relief in your behalf to try to mitigate losses and recover what is owed to you. I can present a variety of options and remedies that are effective while not running afoul of federal and state consumer protection statutes.

Knowledgeable law firm advises creditors on federal and state statutory remedies

When a debtor is headed for bankruptcy, you may be able to recover some of the amounts owed. I help creditors realize the full range of their options, namely:

• Asserting a reclamation claim for goods delivered to an insolvent customer within 45 days before they file for bankruptcy.
• Making an administrative expense priority claim for goods received by the bankrupt customer within 20 days of a bankruptcy filing.
• Claiming a right to compensation as an essential supplier or critical vendor.
• Asserting rights as a lienholder on special classifications of supplies.
• Pursuing a priority to litigate over other lienholders.
• Asking for the judge to grant relief from an automatic bankruptcy stay if you can show that the debtor is committing fraud or acting in bad faith.

Whether debtors are petitioning for Chapter 7, Chapter 11, Chapter 12 or Chapter 13 bankruptcy, I can help creditors maximize the efficiency of their collection efforts.

Avoid counter litigation and costly mistakes by consulting a lawyer first

I counsel creditors and collections agents on how to make sure collection methods are consistent with the federal Fair Debt Collection Practices Act. The FDCPA limits what professional debt collectors can lawfully do, such as:

• communicating only through the attorney of a debtor, if the debtor who has hired one
• speaking only to the debtor or his or her spouse about the debt under collection
• being transparent about their identity as a collector and the purpose of their calls

The FDCPA prohibits harassing collection tactics, such as calling at inconvenient hours, providing a third party with false credit information about the debtor or threatening bodily harm, arrest or lawsuits.

Like the FDCPA, the Maryland Consumer Debt Collection Act (MCDCA) prohibits debt collectors from engaging in certain threatening, harassing and deceptive behavior. Unlike the FDCPA, however, it applies to anyone who tries to collect a consumer debt, including creditors themselves.

Both statutes permit debtors to sue for damages, so consulting an attorney to ensure compliance with these laws is critical to avoiding lawsuits while protecting your rights as a creditor.

Contact a Baltimore attorney who knows how to fight for your rights as a creditor

If you want to know your options as a creditor or simply want to ensure your collection practices are lawful, please contact the Law Offices of John L. Friedman, in Baltimore, Maryland at 410-539-4220 or contact me online for a free consultation.