Celebrating 10 years! 2007-2017

Anyone doing creditor litigation on their own?

I know debtor/creditor law is a slug for the most part, but lawyer210/04/18
You are best off getting involved in HOAs or CICs. You will billcarson10/08/18
Thanks for the helpful info! The latter makes a lot of sense lawyer210/08/18
Oh, its local jargon for common-interest-community. The equi billcarson10/08/18
lawyer2 (Oct 4, 2018 - 3:32 pm)

I know debtor/creditor law is a slug for the most part, but seems pretty lucrative for the firms getting the business directly from the banks or national debt buyers. Anyone have their own practice with creditor litigation contracts, any advice on how to get the contracts?

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billcarson (Oct 8, 2018 - 10:52 am)

You are best off getting involved in HOAs or CICs. You will have to know basic RE law to get their interest. Their collections work follows. Then their network can slowly open to you.

Remember that the actual work is seldom difficult so the work is given out on a friend-basis or its given to a mill that can manage to survive on 10% commissions and fronting court costs.

Treat the collections part of the deal as something worthy clients will give you if you don’t screw up their legitimate legal work.

Forget about national banks/DBs for now. All require eye-popping infsec, liability, and malpractice policies. Some even want you to indemnify them if a class action pops on one of your files.

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lawyer2 (Oct 8, 2018 - 7:40 pm)

Thanks for the helpful info! The latter makes a lot of sense, which is why I see many of bigger legal groups go for the jugular when it comes to settlements an collecting attorney fee's whereas the DB's are much more lax when it comes to negotiating settlements.
Excuse my ignorance, but what does CIC stand for?

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billcarson (Oct 8, 2018 - 7:53 pm)

Oh, its local jargon for common-interest-community. The equivalent of HOA but in a highrise or other apartment-like setting where the apartments are owned by individual residents.

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