NY Debt Collection Lawyers and Contingency Fees

White desk with clock, smartphone and notebook.Prospective clients regularly ask if we work on contingency fee arrangements in NY debt collection cases. In a contingency fee arrangement, the lawyer agrees to accept a fixed percentage, often one-third of the recovery amount, the amount finally paid to the client.

Especially in debt collection cases, a lawyer considers several factors before agreeing.

If a client cannot pay the legal fees, the lawyer may consider the option of a mixed fee arrangement. This combines a lower contingency fee percentage with a lower hourly rate. A client might want a contingency fee arrangement to keep from throwing good money after bad.

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Planning for a Clean Debt Collection Case

Calculator and spreadsheet with numbers.If we have difficulty obtaining a judgment and/or proving a collection case, it’s often because of an incomplete or incorrect record. Plan for a clean debt collection case from the start to improve your odds of winning. Winning on documentation is not possible if all is not in order. For example, the party billed is not the liable party or is not the correct party. That is why it is imperative that everything is set up properly and the complete and accurate invoices and statements are sent to the correct party or parties every time. Continue reading “Planning for a Clean Debt Collection Case”

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Are You Contributing To Your Company’s Bad Debt?

Man in a suit pointing his finger.For most service providers or suppliers, it seems impossible to get payment in advance. Without realizing it, our internal operations increase the likelihood of a customer failing to pay.

There are actions or inactions that can contribute to or be the direct cause of our bad debt. While the following illustration discusses a client in the trades, it is applicable to all businesses. Continue reading “Are You Contributing To Your Company’s Bad Debt?”

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Are You Within New York’s Statute of Limitations for Debt Collection Litigation?

Wooden gavel.Thinking about bringing an action against a nonpaying client or party? Then you need to know the statute of limitations for New York debt collection litigation. You need to know this in order to bring your case to court in a timely manner. Failure to bring the action within the statute of limitations can result in more than a slap on the wrist. It can result in a lawsuit filed against you and your attorney with costs and sanctions to consider. Continue reading “Are You Within New York’s Statute of Limitations for Debt Collection Litigation?”

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