How long will it take for you to collect my money?
My answer is: that I can tell you based upon statistics the percentage of cases that are paid in the demand, mediation, litigation, arbitration and judgment enforcement phases.
Your non-paying customers’ financial ability to pay, their inclination to pay, the documentation you have to evidence your transaction varies directly affects when we can collect your money. Every case is unique.
Continue reading “New York Debt Collection Lawyer: How Long Will It Take for You to Collect My Money?”
You only have a year to do that. Since arbitration is an expedited process, you get a relatively short period to confirm the award in New York. Confirming the arbitration award has a 12-month statute of limitations. And the clock starts ticking the date of the arbitrator’s final determination, not the date of the arbitration award.
While confirming the award sounds simple and straightforward, there can be bumps in the road. Make certain not to drive into a pothole, causing damage beyond repair that prevents you from confirming your award on time. Continue reading “What’s The Time Limit To Convert An Arbitration Award To A Judgment In NY?”
Watching many a courtroom drama may have lead you to believe a jury will hang your nonpaying customer out to dry. Is it really as portrayed in the movies? Is a jury right to decide your debt collection case?
The right to a jury trial.
All parties to litigation, including debt collection litigation, are entitled to a jury trial. That is, of course, unless your underlying agreement with your customer included a provision for both parties that waived their rights. Continue reading “Should A Jury Decide Your Debt Collection Litigation Case?”
Companies and organizations are often challenged with what to do when clients don’t pay within terms. There are some accounts that routinely do not pay outstanding invoices within your terms. These are opportunities to improve your company’s cash flow. While you may have your payment terms established at Net 30, perhaps a discount offered to clients who make payments earlier, within 10 days, would encourage some customers to pay early. However, it seems that the majority of clients pay past the established Net 30 days.
There are changes that you can make that will help to improve receivables, improve cash flow and get your clients to pay within terms. Continue reading “What To Do When Your Clients Don’t Pay Within Terms”