Re: Doing Collection Work

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So collection works sucks too. I guess I'll go get a job at
the Post Office.

On 12/02/06, JF wrote:
> I'll give you my experience. When I was in law school and
> for the first few months of being a lawyer, I did some
> collection work for a small firm. It's a tough way to make a
> living. You need very high caseload to make money, because
> typically the client will pay a contingent fee. Since most
> Defendants are judgment-proof (assuming you can even find
> them), you will only be paid for a small percentage of your
> cases. And with these, the collection process is unpleasant -
> you will have to threaten the Defendants, drag them into
> court, etc. Basically, you have to be a good a#&37;&*^e.
>
> My guess is that if you can find a client whose customers
> typically have assets, collection law could be worthwhile.
> For example, by definition construction company customers
> own real estate - an asset that can be attached (subject to
> local homestead rules, of course). Auto mechanics could be
> good clients, because you could attach and repossess
> Defendant vehicles (as allowed in your jurisdiction). Once
> again, though, an unpleasant way to make a living.
>
> The real benefit to collection work is that you can develop
> a relationship with a business client who hopefully will
> give you other work. So it can be a good loss leader. The
> firm I worked for mostly did collection work for a few
> orthopedic doctors. Aside from using the firm for their
> personal legal matters, they would refer personal injury
> clients. My old boss retained these clients through family
> relationships. It's a lot easier to make it in this business
> when you're from a locally prominent family who eat, drink,
> and socialize with other locally prominent families.
> Newcomers like most of us need to network and develop our
> contacts.
>
>
>
>
> On 12/02/06, Richard wrote:
>> I agree with the general sentiment that serving consumer
>> clients sucks.
>>
>> However, serving business clients is another matter. You
>> can get recurring business from them and they pay their
>> bills. That said, has anybody here had any luck doing
>> collection work for banks, cc companies, etc? If so, how
>> do you get these clients?