Disclaimer: This article is only intended for educational purposes and shouldn’t be used as a substitute for legal advice.
Does someone owe you money and is not willing to pay it within the time limit? This law applies to all the non-bankruptcy aspects and is valid for both creditors and debtors. Many businesses or individuals hire a debtor-creditor lawyer to make sure they stay away from the court. There are various cases in which this law applies, but it’s important to get all the necessary knowledge before pressing charges on a person.
Debtor-Creditor Law for a Consumer
Minor billing disputes can be handled in small claims court; however, you need to hire an attorney to fight on your behalf for bigger claims. The attorney is the one who will collect your payments if you win in court. If you were turned down credit due to language, race, gender, or other issues, you’re allowed to hire an attorney and contact the financial institution.
The lawyer can rebuild the credit for you by opting for the right credit counselling service, so you are well aware of your consumer rights. These issues can be resolved by hiring the right person for the job.
Debtor-Creditor Law for a Business
Usually, businesses hire a generalized attorney to help them in more than one case, including credit and debt issues. Businesses need to assess how to collect debts, extend credit, or more to protect them in the long run.
Business debtor-creditor law is more complex as it involves a high level of debits and credits. Securing the financial position of the creditor is also on the line, so it’s a great duty on the lawyer’s shoulders to help their client.
Hiring the best lawyer often becomes a trouble if you’re not aware of everything regarding debtor and creditor laws. The best lawyer will make you aware of all the necessary terms along with helping you to find out the best solution to get your money back.
We’re a team of lawyers who have helped hundreds of clients secure back their money. Several issues need to be resolved in the case, so it’s important to hire the best attorney for the job. We are also one of the finest Canadian immigration lawyers, so get in touch with us or book your appointment today.
