Businesses and professionals need cash flow to run their businesses and survive. If there is no cash flow, there is no business. A business can have the best business plan, the best talent and the best ideas, but it is all for naught if customers/clients/patients do not pay. MMGBB represents clients big and small across a wide spectrum of industries. We are a “go to” source for collections for other law firms and seek to collect our clients’ commercial and consumer debt.
We regularly review and revise our clients’ contracts, invoices or order forms in order to insure that we can seek all legally collectable monies possible. We also review if you have the proper jurisdictional provisions that can put you in a more advantageous position in your collection efforts. We can be your collection agency and work with you from the beginning, when you decide to take action on an account receivable, or after a judgment is obtained, or at any point in between.
Commercial collections are receivables that are not for personal, familial or household purposes. Depending on the business relationship a client wants to have with its delinquent or slow paying customer, we will work with business owners, their controllers, accounts receivable or office managers to develop collection strategies to make the account receivables become account payables. We will also review your contracts to see if there are any personal guarantees and any other available sources of monies to seek payment from.
Consumer collections are collections that are for personal, familial or household purposes and are governed by the Fair Debt Collections Practices Act (FDCPA). We advise clients on the ramifications and issues that arise with the FDCPA and are fully compliant with collections governed by the FDCPA. Some of the types of collections that fall within the FDCPA are collections for law firms, accountants and medical practices.
A subset of medical collections is “kept check” cases. When an out-of-network (OON) medical provider provides services to a patient, the patient’s insurance company often sends a reimbursement check to its insured (your patient, in this case) to cover the allowed portion of the OON charges of the medical provider. Most of the time, the patient knows to pay the medical provider upon receipt of such a check. However, all too often, a patient “keeps” that check and does not pay the doctor. On behalf of the medical providers we represent, we pursue such clients vigorously to obtain payment for the doctor’s services.
Whether it is a personal loan from one friend to another, or a more sophisticated loan from a business to another business, we seek to collect the unpaid loan portions from the delinquent party.
Frequently, other law firms obtain judgments on behalf of their clients. Not being familiar with the collection process, or the client not wanting to spend large sums of money on legal fees in the collection efforts, they will refer us their judgments to take all necessary actions to collect on the judgment. From domestication of foreign judgments or docketing New Jersey judgments, we are a resource and go-to source for other law firms and businesses for their post-judgment collection efforts.
When a client does not necessarily seek money to be recovered, but the physical recovery of an item, be it an automobile, construction machinery or leased equipment, we pursue all available avenues for recovery, including instituting a replevin action.