How the Coronavirus Outbreak Will Affect Debt Collection

A photo of handwashing to represent coronavirus and debt collection.No doubt you have already felt the effect of coronavirus on your business. As the virus spreads across the U.S., things are coming to a quick slowdown. Understanding how the coronavirus outbreak will affect your debt collection claims will help manage your expectations of recovery.

How the Coronavirus Outbreak Will Affect the Courts

Beginning March 16 at 5 p.m. the courts will postpone all “non-essential” services. The following changes will likely impact your civil suits and ability to recover money and property: 

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The Importance of Giving Credit for Payments in Debt Collection Cases

Image of a calculator and invoice to represent giving credit for debt collection payments.The importance of giving credit for payments made can not be overemphasized when it comes to debt collection. The improper allocation of credits and payments will directly affect your claim and recovery.

Failing to give credit for payments when credits are due will extend the life of your debt collection case. It can also, in some instances, cause you to forego recovery of your NY debt collection claim. Continue reading “The Importance of Giving Credit for Payments in Debt Collection Cases”

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