Using Mineral Liens to Collect Oil and Gas Debts: A Step-by-Step Guide
In the oil and gas industry, unpaid receivables can jeopardize your business’s financial health. When traditional collection methods fail, oil and gas mineral lien collection offers a powerful solution to recover debts from stubborn debtors. At Melton Norcross & Associates, we specialize in enforcing oil field mineral liens to help Texas-based oil and gas companies recoup their funds. This step-by-step guide explains how mineral liens work and how we can help you maximize your recovery.
What Are Oil and Gas Mineral Liens?
A mineral lien is a legal claim placed on a debtor’s oil and gas assets, such as wells or mineral rights, to secure payment for services or supplies provided. These liens are particularly effective in the oil and gas industry, where assets are often high-value. However, filing and enforcing liens requires expertise due to varying state regulations and tight deadlines.
Step-by-Step Guide to Mineral Lien Debt Collection
Follow these steps to leverage oil and gas debt recovery liens effectively:
1) Understand State-Specific Regulations
The statute of limitations for filing oil field mineral liens varies by state. In Texas, for example, you typically have a limited window to file after work is performed or services are rendered. Consulting with a professional debt collection agency like Melton Norcross ensures compliance with state laws and timely action.
2) Gather Documentation
To file a lien, you’ll need detailed records, including:
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Invoices and payment terms
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Contracts or service agreements
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Proof of work performed or materials supplied Our team at Melton Norcross assists clients in organizing documentation to strengthen their lien claims.
3) File the Mineral Lien
Filing a lien involves submitting legal documents to the appropriate county or state office. Our enforce oil and gas liens Texas services include handling the paperwork and ensuring accuracy to avoid delays or rejections.
4) Enforce the Lien
Once filed, the lien pressures the debtor to pay to avoid losing their assets. If necessary, our nationwide network of collection attorneys can escalate the case to litigation, all on a contingency basis, so you only pay when we recover.
Why Partner with Melton Norcross for Mineral Lien Collection?
With over 30 years of experience, Melton Norcross & Associates is a leader in mineral lien debt collection. Our team, led by collections manager David M. Roche, uses licensed private investigators to verify debtor assets and streamline the recovery process. Our no-collection, no-fee policy ensures risk-free services, and our complimentary skip tracing uncovers hidden debtor information to boost success rates.
Take Action Now
Don’t let unpaid debts hold your business back. Contact Melton Norcross & Associates for a free consultation to explore how oil and gas mineral lien collection can recover your receivables. Call us at (469) 513-8458 or email us to get started with a no-obligation price quote.
Melton Norcross & Associates: Experts in oil and gas debt recovery liens.
Do you have a business client that is more than 90 days late paying you?
If YES, we can collect the money that is owed to you.
As a professional commercial debt collection agency located in Frisco, TX, Melton Norcross and Associates specializes in helping businesses collect past-due receivables.
