Yet Another Promissory Note Question(s)

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Aug 16, 2011 2:27 pm

When a firm hires an outside attorney to collect your outstanding note; How are they typically paid ?  Hourly / Flat Rate / Conting. based on collection ?

Any insight would be appreciated.  Thanks

Aug 17, 2011 3:46 pm

look up the firm, see what they do.

That being said, collections is almost always a percentage.

Aug 25, 2011 9:37 pm

[quote=JoeyBags]

When a firm hires an outside attorney to collect your outstanding note; How are they typically paid ?  Hourly / Flat Rate / Conting. based on collection ?

Any insight would be appreciated.  Thanks 

[/quote]

What is the relevance of that issue? I know a firm that chases down FA's that gets paid in live chickens.