Do you have accounts that you wrote off once the member moved to Florida? Many creditors incorrectly believe that it is virtually impossible to collect debts in Florida. While Florida does have a “debtor haven” reputation, there are actually several laws that work in our favor. Florida is a popular destination for many consumer debtors, and a substantial part of our business is representing out-of-state credit unions for that very reason.
If you have debtors who have moved to Florida, there is potential for you to boost your accounts receivable by pursuing these accounts, so long as the statute of limitations has not run out. If you have previously sued an account and obtained a judgment, only to have the debtor move to Florida, there are options here as well.
To learn more, download our free White Paper, “Domestication: Pursuing Debtors Who Flee to Florida.”
In this white paper we go into more detail on how we “domesticate” judgments and the methods used to recover money (plus all accrued interest). Hiday & Ricke has been successfully representing credit unions and other creditors on a contingent basis for over thirty years.