Michael J. Lucas & Associates, LLC represents creditors seeking to enforce valid payment obligations and protect their rights.
Start With the Documentation
Contracts, promissory notes, invoices, purchase orders, account statements, guaranties, security agreements, communications, and payment history can determine the strength of the claim.
Before sending a demand or filing suit, the amount due and legal basis for recovery should be clear.
Demand and Negotiation
Some debts can be resolved through a structured demand, payment arrangement, workout, or negotiated settlement. A business may prefer prompt partial recovery over lengthy litigation, while another matter may require immediate suit to protect legal rights. The strategy should account for the debtor's financial condition and the likelihood of payment.
Filing Suit
When voluntary payment is not forthcoming, a creditor may pursue litigation for breach of contract, account stated, promissory note enforcement, or another appropriate theory.
Defenses, counterclaims, contractual notice provisions, attorney fee clauses, and applicable limitation periods should be considered before filing.
Secured and Unsecured Obligations
A secured creditor may have rights in collateral that differ significantly from an unsecured creditor. Article 9 of the Uniform Commercial Code and the security agreement can affect perfection, priority, repossession, disposition, and other remedies. Those issues should be evaluated separately from an ordinary unpaid invoice.
After Judgment
A judgment creates additional enforcement tools, but collection is not automatic. Citations to discover assets, wage deductions, nonwage garnishment, liens, and turnover remedies may be available, subject to exemptions and procedural requirements.
Compliance Matters
Creditor representation must be conducted lawfully. Consumer debts can implicate federal and state collection laws, and the rules may differ depending on the type of debt, creditor, collector, and communication.
If your business is owed money, Michael and his team can review the documentation, evaluate collectability, and help determine whether demand, negotiation, litigation, or post judgment enforcement is the most practical next step.
Areas We Serve
Michael J. Lucas & Associates, LLC assists clients throughout Boone County, Cook County, DuPage County, Kane County, Lake County, McHenry County, and Will County.
Our office serves clients throughout Northern Illinois, including Addison, Algonquin, Antioch, Arlington Heights, Aurora, Barrington, Bartlett, Batavia, Belvidere, Bloomingdale, Bolingbrook, Buffalo Grove, Carpentersville, Cary, Chicago, Crystal Lake, Deerfield, Des Plaines, Downers Grove, Elgin, Elk Grove Village, Elmhurst, Evanston, Fox Lake, Fox River Grove, Frankfort, Geneva, Glen Ellyn, Glenview, Grayslake, Gurnee, Hanover Park, Hampshire, Harvard, Highland Park, Hoffman Estates, Huntley, Joliet, Lake Barrington, Lake Forest, Lake in the Hills, Lake Zurich, Libertyville, Lincolnshire, Lisle, Lockport, Lombard, Marengo, McHenry, Mokena, Mount Prospect, Mundelein, Naperville, New Lenox, Northbrook, Palatine, Park Ridge, Plainfield, Poplar Grove, Prospect Heights, Rolling Meadows, Romeoville, Roselle, Schaumburg, Shorewood, South Elgin, St. Charles, Streamwood, Sugar Grove, Vernon Hills, Waukegan, West Chicago, Wheaton, Wheeling, Wilmette, Winfield, Wood Dale, Woodridge, and Woodstock.