Please click here for a FREE article, Kate L. Mesic wrote on Extending Credit to the "Right" Customers. This article was published in the Jacksonville Advantage Magazine in 2012. Most of our clients are business owner who have outstanding receivables or whose customers have failed to live up to their side of the agreement. In a collections case, our job is to find the best solution for your case. We fully understand that litigation is a very expensive process, so when it comes to collections we take the approach of finding the most cost-effective way to resolve your case. We are prepared to handle your case from start to finish – from filing of a lawsuit to enforcement of your judgment. This means that if you already have a judgment, but have not collected any money, call our office, we will be happy to evaluate your judgment collection case.
If you are collecting a judgment, you need to make sure it is properly perfected in the State of Florida, which includes placing liens on personal and real property of the debtor. You may be able to collect the judgment in several ways. For example garnishment of the debtor's bank account, a deposition in aid of execution, or a payment plan with the debtor. Please continue reading below for Frequently Asked Questions on Collections in Florida.
Commercial Collections FAQ:What is a typical commercial collections case? Commercial collections can be any business dispute that involves money. Usually it is a case where two companies signed a contract, where one will provide a service or a product and the other refuses to pay for it. Our office will assist you in negotiating of a settlement, litigation, and judgment enforcement. I am a business owner, and my business has just been sued, can you help? Yes, we represent businesses of various sizes on both sides of the litigation process. We can guide you through this difficult time and help you understand the system. I am owed money, and the debtor does not care, what should I do? If you are someone, who is owed money by another business, call our office for a FREE consultation. We will help you evaluate your options and see what is the best course of action. Can you help me with my credit application or agreement? Yes, we can evaluate your credit application or contract to make sure you are fully protected in case you did have to sue a customer. Your contract or credit application must contain the necessary language about attorney's fees, interest and costs. Will I have to sue in each of the cases? We always try to settle cases before suit. We will send a demand letter on your behalf and will negotiate a settlement, if possible. Back to Top
Judgment Enforcement FAQ:What is a final Judgment? The final judgment is the Judge's final decision in the case, which is recorded by the Clerk of Courts. What must the final judgment contain? It is very important that the Final Judgment have all the required information in it. Florida Statute 55. 01 requires that the Judgment contain the debtor's address, if known to the Plaintiff. It also should include the Plaintiff's address in their as well. Please note that a P.O. Box address cannot be used. Also, the Judgment must have the rate of interest at the time of the Judgment (Florida Statute 55.03(2)). Why you ask? Because this is the interest you are going to calculate going forward. So, for example, if you had a credit application or a contract, that provided for 18% interest, you would get that before the entry of the Judgment. Once the Judgment is entered, you are only entitled to the Statutory Rate at the time of the entry of the Judgment. Please see the Florida Division of Accounting and Auditing for current rates. What is the rate of interest on a final judgment? Florida Statute 55.03(1) authorizes the Florida Chief Financial Officer to set the interest rate on Judgments on December 1, March 1, June 1, and September 1 of each year. As of April 1, 2013 the interest is as follows: REMEMBER THIS INTEREST CHANGES, CHECK HERE
|Effective Date||Rate Per Annum||Daily Rate as a Percentage||Daily Rate as a Decimal|
|April 1, 2013||4.75%||.0130137%||.000130137|