Creditors Rights Lawyers

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What Can I Do as a Creditor if the Debtor Doesn't Pay?

Your rights as a creditor depend on the type of debt that is owed to you.

There are two major types of debt: 

Secured Debt that Isn't Being Paid

The creditor with a secured debt usually goes after the property that the debt is secured to, by either a repossession or foreclosure.


If the attached property is a vehicle, furniture, or large appliance, repossessing the property is a way to recover for an unpaid debt. Repossessions can be done in a number of ways:

Unsecured Debt that Isn't Being Paid

Collecting an unsecured debt is usually more difficult than collecting a secured debt. The first step to the collections process is to try to collect the debt yourself through reminder invoices and demand letters. Should the debt remain unpaid you can then hire a collection agency. If the collection agency fails, your last option is to file a lawsuit against the debtor.

Do I Need an Attorney to Help Me Get My Debt Paid?

There are many confusing legal procedures that a lawyer can make you aware of to limit your own liability, and increase your chances of collecting the debt. If you choose to go to court a lawyer can be vital to getting a judgment against the debtor.

Vea esta página en español: Derechos de los Acreedores o visita para más información legal.

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Last Modified: 11-21-2011 04:36 PM PST

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