Many law firms include a civil trial lawyer. Ours has a Board Certified Civil Trial Specialist. We have extensive experience in legal collections, from small unsecured amounts to large, multi-million dollar accounts involving complex methods of collateralization. Unsecured Obligations Collection of unsecured debts may be handled on either a contingent or hourly fee basis, depending upon the circumstances. Our experience has been that collections handled on an hourly fee basis cost the creditor less than one-third of the gross amount collected, although fees certainly may be more or less in a specific case.
Contingent fees are generally one-third of the gross amount collected, plus expenses.
A small advance fee is usually required in contingent fee cases to offset the costs of litigation. Secured Obligations Secured obligations may often be collected in the same manner as unsecured debts, by a suit filed in the Circuit Courts or in the General District Courts. In many cases, however, the creditor wishes to obtain possession of the collateral securing the debt. Such cases are usually handled on an hourly fee basis.