Ragan and Ragan (2026): Who They Are, Complaints & Your Options
If you got a letter or lawsuit filing from Ragan and Ragan, you're probably trying to figure out who they are, whether this is real, and what your business can actually do about it. This page covers what we know about the firm, what their contact typically means for a business, and the options worth considering before this gets worse.
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Who is Ragan and Ragan?
Ragan and Ragan (formally Ragan & Ragan, P.C.) is a debt collection law firm based in Wall, New Jersey, at 3100 Route 138 West. The firm has been in the creditor-side collections business since 1974 — over 50 years. They hold a BBB rating of A+ as of 2026, though they are not BBB accredited.
They are members of the Commercial Law League of America (CLLA) and the National Association of Retail Collection Attorneys (NARCA), which are the two main trade organizations for creditor-side collection attorneys. That tells you something: this is a professional, high-volume collection operation, not a scattershot outfit.
Ragan and Ragan represents creditors across New Jersey, New York, and Delaware. They handle commercial collections, retail debt, education accounts, medical receivables, insurance subrogation, landlord-tenant matters, and bankruptcy proceedings. The firm also has a Georgia office (raganlawga.com) for Southeast collections work.
One notable connection: Peter Ragan Jr. is the co-founder and Chief Compliance Officer of Velocity Investments, LLC, a national buyer of consumer receivables. Ragan and Ragan represents Velocity and similar debt buyers — meaning by the time they contact you, the underlying debt may have changed hands from whoever originally issued it.
Why is Ragan and Ragan contacting your business?
There are two typical paths that land a business in the firm's pipeline.
The first: a creditor — a bank, commercial lender, equipment financier, or service provider — placed your overdue account with Ragan and Ragan to collect. The firm handles commercial, retail, and medical collections, so this could be anything from an unpaid SBA loan to a vendor balance to a defaulted equipment lease.
The second, and increasingly common: a debt buyer purchased your account. Original creditors often sell charged-off business debt portfolios at a fraction of face value. Given the firm's ties to Velocity Investments and similar buyers, Ragan and Ragan may be filing against your business on behalf of someone who bought the debt months or years after the original default. The amount they're trying to collect could include fees and interest stacked on top of the original principal.
Either way, contact from them means the creditor side has decided to move from passive collection to legal pressure. Ignoring it from here typically makes the situation worse.
Can Ragan and Ragan sue you?
Yes. They file regularly in the Superior Court of New Jersey (Special Civil Part for smaller amounts, Law Division for larger claims), and presumably in corresponding courts in New York and Delaware given their stated coverage. This isn't a threat — it's their operating model.
If you're served with a summons and do nothing, the court will enter a default judgment against your business. That judgment has real teeth:
- Bank account restraints and freezes on business funds
- Liens on business property or real estate
- Wage garnishment (against the business's receivables, in some states)
- Execution against assets
One thing worth knowing: business debts operate largely outside the Fair Debt Collection Practices Act (FDCPA). The FDCPA is a consumer protection statute — it governs how collectors treat individual consumers. Most of its protections don't apply when the debt is a commercial or business obligation. That means some of the limitations placed on consumer debt collectors don't constrain what Ragan and Ragan can do when they're collecting a business debt.
The clock matters here. Statutes of limitations on commercial debt vary by state and debt type — typically 4 to 6 years in New Jersey — but once a judgment is entered, collection can continue for much longer. If you've received a summons, you generally have 35 days to respond in New Jersey's courts. Missing that window hands them a default judgment without a hearing.
Your rights when a law firm collector contacts your business
Even outside full FDCPA coverage, business owners still have options.
Demand written verification. You can request that Ragan and Ragan send written documentation of the debt — the amount claimed, the original creditor, and how the account arrived with them. This is basic due diligence, especially if the debt has been sold and you're not sure the amount or ownership is accurate.
Check the statute of limitations. If the debt is old, it may be outside the filing window in your state. A judgment can't be entered on a claim that's time-barred — but the burden is typically on you to raise it as a defense. Sitting out and hoping they don't notice is not a strategy.
Dispute inaccuracies. If the amount is wrong, the account isn't yours, or you have records of prior payment or settlement, document that clearly and in writing. Debt that has changed hands through a sale sometimes comes with calculation errors or missing payment history.
Don't respond to phone calls with commitments. If the firm contacts you by phone, you're not required to make payment arrangements on the spot. Ask them to put everything in writing, then evaluate before responding.
Settlement as an option
Business Debt Adjusters is not a law firm and does not provide legal advice. What we do is negotiate. And in a significant portion of business debt cases — including cases where Ragan and Ragan is involved on behalf of a debt buyer — settlement for less than the full balance is possible.
Debt buyers purchase charged-off accounts at a discount. That math creates room for negotiation: the buyer paid, say, 10 to 30 cents on the dollar. A settlement at 40 to 60 cents is still profitable for them. They often prefer a lump-sum settlement over years of collection effort, legal costs, and uncertain recovery.
BDA has 11 years of experience working through exactly these situations for business owners — $500M+ in business debt resolved. We engage directly with the collector or their client to negotiate a settlement your business can actually close. We don't stall, and we don't pretend every case settles for pennies on the dollar. But we find out what's realistic and we push for it.
If a lawsuit has already been filed, settlement talks can still happen — and often do — before a judgment is entered. The window isn't necessarily closed.
Learn how BDA's business debt relief process works →
Our overview of merchant cash advance relief options covers settlement, consolidation, and reconciliation in plain terms, worth reading before you agree to anything.
When you need an actual attorney
Settlement and legal defense aren't mutually exclusive. In some situations, you need both — or legal defense first.
If you've been served with a summons, you have a hard deadline. If you're 10 days out from the response window closing, the first call is to a debt defense attorney, not a settlement company. Missing that deadline forfeits your right to contest the claim.
You may also need an attorney if you're disputing the validity of the underlying debt — meaning you believe you don't owe it, the account isn't yours, or there's a contract dispute about the original obligation. Those are legal arguments that require someone who can file a formal response and appear in court on your behalf.
Honest take: settlement negotiation works best when you have time and the debt amount isn't in dispute. Legal defense works best when you have grounds to contest the claim. If you're not sure which lane you're in, start by finding out. We can help you figure out whether this is a settlement situation or one where you need a litigation attorney first — and we'll tell you straight.
Frequently asked questions
Is Ragan and Ragan a legitimate law firm?
Yes. Ragan and Ragan, P.C. is a licensed law firm that has operated since 1974, based in Wall, New Jersey. They have an A+ rating with the BBB (though not BBB accredited) and are members of the CLLA and NARCA. Contact from them about a debt is real and should be taken seriously.
Who does Ragan and Ragan represent?
The firm represents banks, commercial lenders, and debt buyers across commercial, retail, medical, and education collection matters. They have a documented connection to Velocity Investments, LLC, a national consumer receivables buyer, and likely represent similar buyers and original creditors across their New Jersey, New York, and Delaware footprint.
Can Ragan and Ragan freeze or garnish my business bank account?
If they obtain a court judgment against your business, yes. New Jersey courts can authorize bank account restraints on business accounts following a civil judgment. This is one reason settling or responding before a judgment is entered matters — once a judgment is on the books, enforcement options expand significantly.
What if I actually owe the debt they're collecting?
Owing the debt doesn't mean the full balance is your only option. The amount owed, the terms of repayment, and the timeline are all potentially negotiable — particularly when the debt has been purchased by a buyer rather than collected directly by the original creditor. Many business owners in this situation work through a debt relief firm like BDA to negotiate a settlement that's structured around what the business can actually pay.
Should I call Ragan and Ragan directly to try to settle?
You can, but going in without knowing your numbers or the collector's likely floor is risky. Collectors are experienced negotiators. Knowing roughly what the debt buyer paid for your account — and what a realistic settlement range looks like given your debt type and amount — puts you in a much better position. That's exactly the kind of preparation BDA does before a negotiation starts.
