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Could You Be Required to Post a Bond to Maintain Your Debt Collection Case?

Briefcase full of money to represent posting a bond in New York debt collection.Sometimes New York courts require creditors to post a bond to maintain their debt collection case in the state’s courts. Could you be required to post a bond to maintain your New York debt collection case?

Companies incorporated in New York, as well as ones incorporated in another state but authorized in New York, generally will not be required to post a bond.

But companies “doing business” in New York that are not yet registered in the state may be required to post a bond to maintain their debt collection case.

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Lost Your Debt Collection Arbitration? Ask for a Trial De Novo.

Photo of a court room to represent debt collection arbitration and trial de novo.Unhappy with the decision rendered by the arbitrator(s) in your New York debt collection case? If so, you may have another chance to win your case by asking for a trial de novo.

Parties wishing to get another bite at the apple in the “Big Apple” can, without specifying a reason, ask for a do-over. The party that files for a trial, when allowed to do so, can make the arbitrator’s decision disappear and start anew “de novo.”

Many of the New York courts require arbitration for cases below a specific dollar amount. Retired judges or others appointed by the court act as arbitrators. The arbitrators listen to testimony and apply the same law that a judge would.

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Why the Font Size You Use in Your Contract Matters

Person signing a contract to indicate using a good font size.The font size used in your company’s underlying agreements with other businesses can directly impact the success of your debt collection case. But what happens if the font size you use in your contract is a bit too small?

Well, if all goes well and your customers pay, you should be okay. But, what if the customer fails to pay and you need to pursue litigation, arbitration or mediation?

Then the subject of your mighty small print may become more than just an issue.

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