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Hoevel And Associates, Attorneys & Lawyers, Chicago, IL

Debt Collection Practice

Our attorneys have more than two decades of experience in the collection of delinquent accounts on behalf of a variety of commercial and individual clients, including many Chicago area hospitals and medical service providers. Our staff and state-of-the-art information system enable us to produce client revenue efficiently and quickly. We perform all collection activities including debt analysis, background verification, skip-tracing, pre-litigation collection, litigation, wage garnishment and property attachment. We provide collection activity reports and revenue disbursement monthly or semi-monthly, as requested. Clients are able to monitor account activity by logging on to the Client Access section of our website.
Once an account is referred to our firm, we perform the following steps:
  1. The account is entered into our computer system. Once entered, progress information is accessible to our clients via the internet. Demographic data is verified and debtor’s employment and / or assets are identified.
  2. A letter is sent to the debtor requesting that he pay the debt or dispute it.
  3. The debtor is contacted by telephone. He is encouraged to settle the matter in full or to enter into an installment plan.
  4. If the foregoing efforts are unsuccessful, we will contact the client to determine whether a lawsuit should be filed.
  5. If litigation is commenced, attorneys will attend all court dates. Client will only be required to attend when testimony is required, which is rare.
  6. Once a judgment is entered, enforcement action is commenced including wage garnishment, bank account garnishment and home liens.

Debt Collection Fees

Our fees are contingent upon successful collection. If we don't collect, you pay no fee. If we do collect, the fee is a percentage of the amount collected. The percentage varies, depending on the accounts collectibility, the dollar amount, and the volume of accounts referred. The typical rate is 33%, but we may agree to a reduced rate for high volume and high balances.

What is the chance of successful collection?

Our success rate varies, depending on factors listed below. However, as experienced collectors and attorneys, we are more likely to be successful than others. Factors which increase the odds of collection success are:

  • The debt is very recent.
  • Debtor has identifiable employment, home ownership, and good credit history.
  • In the case of medical collections, the existence of third party liability, such as insurance or personal injury cases.
  • Debts of less than $20,000.00.

Factors which decrease the odds of collection are:

  • The debt is old.
  • The debtor is a small corporation or self employed person.
  • Debtors who are eligible to file bankruptcy .
  • Very large debts.

How quickly will collection occur?

Some debts are collected in a week and others are never collected. Usually, if a collection is going to be successful, revenue will begin to be collected between one to six months.

What will the client be required to do?

Our clients are required to provide documentation of the debt and detailed information of the debtor such as social security number, bank account information, employment information, insurance, etc.

Are clients required to attend court?

Our clients are rarely required to attend court proceedings. However, you will be consulted from time to time by telephone to review settlement offers or provide additional information.

How do we disburse your money?

All money collected is deposited into our client trust account. After we are certain that the debtor's payment has cleared, the money is disbursed to you and we retain our fee.
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Debt Collection Attorneys Chicago
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