Boulder City Magazine is a monthly publication full of information about Boulder City and Southern Nevada. Boulder City Magazine features the Boulder City Home Guide, a real estate guide to Boulder City and Southern Nevada.

Lawyer's Edge
by Bruce L. Woodbury, Esq.
Jolley Urga Wirth Woodbury & Standish

Collecting Unpaid Debts

In these difficult economic times, too many people are feeling the effects of shrinking retirement accounts, failed investments, and mounting bills. In such a setting, the sting of seemingly uncollectable debts has become increasingly acute.

These days, many debts go unpaid. And if you’re a creditor, chances are you’ve also got your own debts to pay. So how can you collect unpaid debts?

Sometimes, a demand letter or meeting is all it takes to convince a debtor to make your account a priority and begin repayment. In fact, in many cases, the debtor acknowledges the debt and is willing to enter into a confession of judgment.

A confession of judgment is an actual judgment through which a debtor agrees to be bound in the same way he would be if a judge or jury handed down a judgment in your favor. In a typical confession-of-judgment scenario, the debtor signs both a confession of judgment and a settlement agreement. The settlement agreement sets forth a mutually agreeable repayment plan and authorizes the creditor to file the confession of judgment in court if the debtor defaults in payment.

When a debt is not in dispute, both parties have an incentive to enter into a confession of judgment. The debtor usually receives more time to repay the debt and can avoid a lawsuit or the adverse credit consequences of having his debts turned over to a collection agency. Likewise, the creditor gets the added security of a judgment to back their collection efforts without having to litigate an expensive and emotionally draining lawsuit or having to pay a steep contingency fee to a collection agency.

If you have uncollected debts, there are often cost-saving alternatives to litigation. Contact an attorney experienced in collection work.

Rod Woodbury can be reached at 933-0777 or by e-mail at To learn more, visit the firm on our website at, on Facebook at, or on Twitter at

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