Our attorneys’ experience includes representation of large lending institutions, individual lenders, and borrowers in credit-related suits and transactions. Common debtor-creditor matters include the structuring of loan agreements, purchases on credit, collection suits, garnishments, and suits regarding debt-collection practices. The firm is familiar with legally and factually complicated scenarios, including court reformation of lending terms. Cost-saving technologies allow Genesis to represent clients for less per hour yet without sacrificing attorney work quality. Free Chinese interpretation is available upon request. Contact Genesis to speak with a debtor-creditor attorney located in Everett, Washington (Snohomish County).
Frequently Asked Questions:
Do you only represent lenders and creditors, or do you also represent debtors and borrowers? We typically represent lenders and creditors, not debtors and borrowers, unless the debtors or borrowers are businesses or business owners. Generally we do not defend against personal consumer debt, such as personal credit card debt.
I’m a bank or lending institution. Can you help me draft or structure my contracts? Yes, we can help with contracts of most types, including unsecured debt, secured transactions, mortgages (deeds of trust), and real estate contracts (contracts with forfeiture provisions consistent with the Real Estate Contract Forfeiture Act, Chapter 61.30 RCW).
Can you help me foreclose on a lien or mortgage, or execute against property? Yes, we have experience foreclosing (selling a property that was security for a loan or claim) and executing on property (selling other property a debtor might have, even if it was not security for a loan or claim).
I lent less than $10,000 to someone who isn’t paying me back. Is it worth suing him or her? That can be a tricky question to answer. Usually it is not worth hiring an attorney to prosecute a case worth less than $10,000, because the associated attorney fees might be several thousand dollars. Depending on the complexity of the case, the associated attorney fees could even exceed the $10,000 in dispute.
But rest assured, there are means of collecting on debts of this size. You could prosecute the matter in small claims court (which often does not require or even allow attorneys), submit the matter to a collection agency, or sue for attorney fees along with the debt.
The “American rule of attorney fees” provides that attorney fees generally are not collectable from the defendant unless an exception applies. The most common exception to the American rule of attorney fees is a prevailing party provision in the loan contract. A prevailing party provision allows the prevailing party to obtain a judgement for attorney fees in a contract dispute.
A lesser known exception to the American rule of attorney fees can be found in RCW 4.84.250, which allows a prevailing party to collect attorney fees if he or she follows certain procedures and the amount in dispute is $10,000 or less.