No matter who you are, you are bound to get into financial disagreements over the course of your life. If you are unable to settle them yourself, you’ll probably end up needing to hire an arbitration lawyer. An arbitration lawyer’s job is to resolve financial disagreements, and there are a number of different ways that they do this. Educating yourself about what these are can make it easier for you to understand why hiring one is so important in the event that you end up disagreeing with another person about money. This post will explore this topic and tell you more about what an arbitration lawyer’s job is.
Table of Contents
Initial Consultation
If you are in the midst of a financial disagreement, your first point of contact should be an arbitration lawyer. According to a team of experts in Florida FINRA arbitration cases, the first step in the process once you have found a lawyer you want to work with is a free consultation. This is a no-obligation consultation, aimed at giving you an idea of what your options are.
Choosing a lawyer to arbitrate your case is not an easy process, but that will be explored in the next section. You need to make sure that you bring as much information to your consultation as you can. Furnishing your lawyer with relevant information can make your life and their life much easier, so provide as much information as you can.
Choosing Arbiter
Choosing somebody to arbitrate your dispute is not an easy process. The average person has no legal experience and therefore does not know how to select a lawyer. However, as long as you stick to the guidance to come, it doesn’t have to be difficult. The first thing to note is that when you are looking for a lawyer, you need to prioritize experience above everything else. Your chosen lawyer needs to know what they are doing.
An effective way of gauging a lawyer’s level of experience is to take a read of their reviews. Their reviews should give you some insight into what they are like to work with and how effective they are at settling people’s disputes. Cost is another consideration to make, as you need to find a lawyer whose services are priced within your budget.
Drafting Agreements
One of the best things about hiring an arbitration lawyer is that when you do inevitably come to an agreement with the person with whom you have been having a financial dispute, they will be able to draft a contract on your behalf that commits your agreement to law. When you are searching for a lawyer to hire, you need to make sure that you find one who’s experienced in drafting contracts. Flaws in your contract can lead to your agreement not being legally binding.
Bear in mind that the person you are having a dispute with will likely have their own lawyers, so your lawyer and their one will have to work together to come to an agreement that you are both happy with. If any mistakes are made during the contract drafting process, it could throw everything into chaos and interrupt your agreement.
Gathering Evidence
In order to make any kind of legal claim, evidence is required. Evidence gathering is an important and unavoidable step in the arbitration process. You either need to gather it yourself or your lawyer will need to do it for you. In order to make your lawyer’s life easier, you should get as much as you can, so when you go for your initial consultation, you can give it to them. Evidence makes your case a lot clearer and makes it difficult for the person you are arguing against to call you a liar or dispute your claims.
The best evidence you can get in a financial dispute is records. Alternatively, you can provide photos or videos. If you have an accountant, they might be able to help you by gathering paperwork for you. Paperwork can make your case very difficult to disprove, which is why it’s always important to leave a paper trail in business.
Negotiating Settlements
An arbitration lawyer will be able to represent your interests and negotiate a settlement on your behalf. When you are looking for one to hire, try to find one with lots of experience in negotiation. They also need to have a professional attitude. To find out what your lawyer’s attitude is like, simply get in touch and talk to them on the phone. If they come across as polite and respectful, then you can hire them. Look for confidence, too.
A person needs confidence to effectively negotiate. It is very easy to tell whether a person is confident or not by meeting them, so when you meet your lawyer for the first time, pay attention to their body language and look for any signs of anxiety or nerves. The last thing you want is a lawyer who’s too shy to get their point across.
Enforcing Awards
Another reason to hire an arbitration lawyer is because once a settlement has been reached, they will be able to help you enforce it and get what’s owed to you. It isn’t uncommon for people involved in settlements to agree to make payments, then make an active effort to avoid paying them after the arbitration process has been settled.
If a person does not pay, you can take them to court. Your lawyer will be able to work with you to make sure you get what’s owed to you. Some of the ways an arbitration lawyer enforces a debt is by seizing a debtor’s bank account and taking control of the funds within it, taking and selling their property, and placing a lien on their property. Speak to your lawyer if the person that owes you money is not paying, so you can find out what options you have available to you.
An arbitration lawyer will be able to work with you to make sure you get the money that you are owed. Find the most qualified and professional one you can, which this post will hopefully help you with. Give each point consideration and incorporate the guidance offered into your debt collection strategy.