We work closely with other commercial and corporate attorneys, representing them in matters that fall into the geographic regions we service. The firm handles matters for insurance companies, financial institutions, public utilities companies and retail credit corporations. Our attorneys also assist law, accounting, and health care firms in managing their accounts receivable.
This client diversity gives our attorneys, collectors and paralegals an excellent business perspective. We understand that companies can have vastly different personalities, and that customer relationships vary widely from company to company. Weinstock, Friedman & Friedman, P.A. adapts its techniques to the needs of its clients. We strive to achieve the greatest return for them while performing in a manner consistent with each company's business style.
Organization and Systems
Weinstock, Friedman & Friedman, P.A.'s attorneys are assisted by professional collectors, paralegals, data processing specialists, secretaries and administrative support personnel.
Attorneys handle all collection and bankruptcy claims, overseeing the activities of collectors and paralegals, and handling all aspects of necessary litigation. The firm is licensed in the District of Columbia, Maryland, Pennsylvania, and Virginia.
Collectors and paralegals assist our attorneys with research and initial and follow up collection calls. They frequently establish and monitor payment plans with debtors and accompany attorneys to court.
Weinstock, Friedman & Friedman, is fully computerized, using the Commercial Legal Software Collection Master computer system. This relational database was developed specifically for the collection industry, and includes a complete chronological event history, unlimited diary system, and a sophisticated accounting program allowing us to quickly and accurately process all incoming and outgoing financial transactions.
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[Maryland] [Virginia] [D.C.]
Maryland Specific Info
I. Statute of Limitations
a. Open accounts - three years*
b. Contracts in writing - three years*
c. Contracts under seal - twelve years*
d. Domestic judgments - twelve years (renewable)
e. Sale of goods UCC - four years
* Payment revives statute
II. Confessed Judgment Notes
Valid in Maryland, but prohibited in
certain consumer transactions.
Confessed judgment
clause that waive consumer rights to assert legal defenses
not permitted in
any contract related to consumer transactions.
III. Attorney fee clauses enforceable if supported by prior
signed agreement.
If an agreement does not specify
a sum, a reasonable attorney fee is generally
to be 15%.
IV. Replevin actions for possession available. District
Court of Maryland has
exclusive jurisdictions.
V. Post-judgment interest on judgments is 10% per annum.
Pre-judgment
interest allowed with prior
signed agreement.
VI. Collection remedies available in Maryland including
wage garnishments, levy
and sale, and attachment
of monies owed by third parties. (Subject to
available state exemptions).
VII. Judgment when properly recorded will become a lien on real property.
VIII. Mechanics, hotel, hospital, artisans and tradesmen, and
condominium liens
are
recognized in Maryland.
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Virginia Specific Info
I. Statutute of Limitations
a. Open account - three years*
b. Contracts in writing - five years*
c. Domestic judgments - ten years
* Partial payment in Virginia will not revive statute
bar.
II. Confession of judgments recognized.
III. Garnishment of wages and property permissible (subject to exemptions)
IV. Liens available for mechanics, artisans, innkeepers, hospitals,
physicians, and
nurses.
V. Attorney fees available if proper signed contract exists.
VI. Pre-judgment interest available if prior signed contract exists.
VII. Post-judgment interest rate is 9% per annum.
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Washington D.C Specific Info
I. Statute of Limitations
a) Open accounts - three years*
b) Contracts in writing - three years*
c) Final judgment - twelve years
d) Sale of goods UCC - four years
* Payment on any part of the principal
or interest on a debt past due begins the
statute to run anew from
the date of payment.
II. Attachments and garnishments allowed subject to exemptions.
Both
District of Columbia and U.S. government
personnel are garnishable.
III. Liens available to mechanics and artisans, garage keepers,
hotels, and
hospitals.
IV. Post-judgment interest available at 7% (usually between
7% and 9%)
of the rate of interest set
by the Secretary of the Treasury.
V. Pre-judgment interest is available if signed prior agreement.
VI. Attorney fee available if supported by a prior written and signed agreement.
VII. Replevin action for possession is available.
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