tag:blogger.com,1999:blog-7692745499150397953.post5142635512206682220..comments2024-01-26T01:10:06.614-08:00Comments on Receivable / Accounts: Legal Final DemandsBlair DeMarco-Wettlauferhttp://www.blogger.com/profile/16245761648713304429noreply@blogger.comBlogger7125tag:blogger.com,1999:blog-7692745499150397953.post-39148902424608188962019-10-17T09:43:37.659-07:002019-10-17T09:43:37.659-07:00Absolutely. Remembering that there may be excepti...Absolutely. Remembering that there may be exceptions to the limitation period for wage assignments, student loans, or acknowledgements of debt after the incurred date.Blair DeMarco-Wettlauferhttps://www.blogger.com/profile/16245761648713304429noreply@blogger.comtag:blogger.com,1999:blog-7692745499150397953.post-23271955422558946742019-10-16T13:59:11.820-07:002019-10-16T13:59:11.820-07:00Could you use the defense of statute of limitation...Could you use the defense of statute of limitations in court, even if sued by a law firm for any debt that is over 2 years, and no legal proceedings have commenced to be registered in court before the 2 year period.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7692745499150397953.post-28500751046626974092012-04-20T18:21:58.160-07:002012-04-20T18:21:58.160-07:00I agree that it's extremely important to have ...I agree that it's extremely important to have inbound calls generated from law firm letters directed to a well trained and educated support staff.<br /><br />I find myself directing consumers to the Ministry of Consumer Services website to file complaints against collectors who are unaware of the laws that govern them all too often.Preston Watsonhttp://www.linkedin.com/profile/edit?trk=hb_tab_pro_topnoreply@blogger.comtag:blogger.com,1999:blog-7692745499150397953.post-89452106425295260622012-04-19T08:32:46.378-07:002012-04-19T08:32:46.378-07:00It sounds like you are addressing the very concern...It sounds like you are addressing the very concern I have with final demands -- having a support system around the letter, which is excellent.<br /><br />Of course, as I run an Accounts Receivable Management firm that falls under the collection agency umbrella to a degree, I'd certainly say you shouldn't write off the entire industry ... there are many tools that a non-legal firm has, and can run more efficiently than a law firm.<br /><br />Your free final demands is an excellent arrangement (we have a similar program), but if your balances are worthy of legal action, 30% is far too high. With high balances and high liquidation, you should be looking at 25% or even 20% on consumer debt, and lower on commercial accounts.Blair DeMarco-Wettlauferhttps://www.blogger.com/profile/16245761648713304429noreply@blogger.comtag:blogger.com,1999:blog-7692745499150397953.post-87319422794225535102012-04-19T08:18:35.357-07:002012-04-19T08:18:35.357-07:00I have for a few years used a law firm who sends l...I have for a few years used a law firm who sends legal demands (not claims)on our company's behalf. There is a seasoned, professional collector that takes over if the demand fails to produce results. I have used collection agencies for many years, and never have I had results with an agency to the degree I have with this law firm. I am through with agencies and believe the perception of "legal" engagement produces far better results than your average collection agency. The firm does not charge for the demand, and if it results in payment within 15 days of delivery, there's no charge at all. A contingent rate of 30% applies to collected amounts after the initial "demand" period. I'm a fan of the "legal demand" approach to collection. The proof is all that previous bad debt that turns into cash in the bank.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7692745499150397953.post-2815888496691527682012-04-17T13:33:49.744-07:002012-04-17T13:33:49.744-07:00Good afternoon!
I am aware that Brian Pitkin did ...Good afternoon!<br /><br />I am aware that Brian Pitkin did retire, although I do not believe it was due to legal demand letters.<br /><br />It's important to draw a line between legal demand letters (a letter on a lawyer's letterhead demanding payment), and a draft statement of claim (a prepared but unfiled legal document). The former is perfectly acceptable, the second, while technically legal with the withdrawl of the Debt Collectors Act, is not ethical.<br /><br />Finally, I agree with you -- a legal final demand should only be used when legal proceedings are authorized.Blair DeMarco-Wettlauferhttps://www.blogger.com/profile/16245761648713304429noreply@blogger.comtag:blogger.com,1999:blog-7692745499150397953.post-3406177721495123902012-04-17T13:20:16.443-07:002012-04-17T13:20:16.443-07:00As you are aware Brian Pitkin has recently resigne...As you are aware Brian Pitkin has recently resigned his post due to his (turn a blind eye) to the current practice of collection agencies using this legal demand letter. This is prohibited by law in all provinces. No discussion here. The only time this is applicable is when the creditor is knowingly proceeding with legal remedy.Anonymousnoreply@blogger.com