At Lund Law, we represent both creditors and debtors in collections matters.
For debtors, we understand that dealing with past due debt can be difficult. Creditors’ letters and phone calls can seem unrelenting, and you may not have the means to pay. Nonetheless, it’s important to understand that you do have options – it may be possible to negotiate, or re-negotiate a payment plan, and there may be defenses based on the validity or amount of the underlying debt. Additionally, the Colorado Fair Debt Collections Practices Act and/or its federal counterpart govern how collections agencies can behave, and provide remedies for debtors in the event of a breach.
For creditors, we understand how to work with debtors to negotiate realistic payment arrangements, how to structure such arrangements to protect the creditor, and how to move quickly to obtain and collect on judgments if payment arrangements are ineffective.
We understand how to prepare and file county and district court lawsuits as efficiently as possible, and how to seek default judgments in the event a debtor does not respond, or summary judgment in the event a debtor does respond but lacks a valid defense. Additionally, we understand how to structure pre-lawsuit payment plans designed to expedite the litigation process in the event the plan is breached.
Once a judgment has been obtained, Colorado law provides a number of remedies for creditors, including:
- garnishment of wages – generally up to 25% of a debtor’s wages can be garnished to satisfy a debt;
- levy and sale of non-exempt personal property, such as vehicles;
- recording of liens against real property; and
- garnishment of bank accounts.