Using an OCA to Execute Debtor Judgments
Originally published: March 2014
by Alan Steinhart
Senior Vice President, Business Development
Using an outside collection agency (OCA) to execute and enforce debtor judgments is often a better approach than hiring an attorney.
Many credit applications and sales contracts contain a Choice of Venue clause that specifies an agreed upon location for the resolution of disputes. These documents are usually drawn by the creditor/seller, which sets its company's location as the Choice of Venue. This seems to make sense, since any legal action resulting from the buyer’s default will thus be held in a jurisdiction convenient to the creditor, and where the creditor and his attorney have the most experience with the specific commercial laws involved.