Recover Collateral with a Fort Worth Consumer Collections Attorney
If a borrower has refused to surrender the collateral or property, the
first necessary step you have to take as a creditor is to send a demand
letter. The sequestration procedure can help a creditor successfully recover
property by demanding that the borrower surrender the collateral to the creditor.
Whether you lack the necessary time to go through the sequestration process
or you wish to leave it to an experienced
Fort Worth consumer collections attorney, we are ready to lend you our legal insight. The process can be confusing
and may require extensive paperwork, but we can handle all the details
on your behalf.
The actions of the sequestration process include:
- Preparing and mailing the initial demand letter
- Preparing and filing all of the necessary pleadings
- Obtaining a writ of sequestration or a judgment to recover property
- Assisting in obtaining and preparing a bond
- Coordinating to obtain services and recover collateral
- Scheduling and attending a hearing for contempt (if borrower refuses to
turn over collateral)
- Obtaining judgment (including trial of matter, if necessary)
- Preparing and recording an abstract of judgment
To begin the sequestration, a demand letter must be sent to the borrower.
Under the Fair Debt Collection Practices Act, debt collectors are required
to provide the borrower with 30 days to request verification of the debt.
After the 30 days has passed, a lawsuit is prepared along with the application
and an Order approving the sequestration. The paperwork is filed and presented
to the Judge, who will then set a bond amount. We have experience with
a several insurers who can help us secure a bond for you. Afterwards,
the writ is served and the collateral is either surrendered or we can
file to have the borrower put in jail until he or she complies with the
Helping Clients Take Replevin Actions Across Texas
We fully understand the stress that can come with having debtors owe you
and refuse to fulfill their obligations or return what they have borrowed.
An attorney can assist you in taking care of the complicated process so
you can focus on other aspects of your business.
The Pritchard Law Firm has extensive experience and knowledge in consumer collections, and we
have developed sophisticated solutions to resolving sequestration matters.
We look forward to discussing the details of your case with you during
a complimentary consultation.
If you need help with a legal issue relating to sequestration, please
contact our firm
today at (817) 727-4001 to schedule a