Well, obviously it depends. I think what’s important is to have an attorney that is honest, and let’s you know if it looks like you’re spending good money after bad.
Often times, you can’t know the answer to that question until you try, so to speak, until you pursue the debtor, whether it be through a demand letter, whether it be through a court action.
I can say that often times, hiring an attorney is successful in collection of a debt, and that the pressure of a lawsuit, or even just a demand letter from an attorney, often gets the debtor’s attention.
Even if the entire debt is not repaid, often times, a settlement agreement is entered into to repay a substantial portion of the debt.