For those in industries filled with chronically late payors, it can be difficult to know when the right time to send a client to collections is. You may worry that by placing your customer in collections, you will lose the “relationship.” But if a client doesn’t pay you and uses
Let’s say your company executed a promissory note with a client company that borrowed $100,000. The parties execute a valid promissory note on October 24, 2024, that indicates the amount borrowed and the date of repayment, October 15, 2025. Then around the date the note becomes due, the client states
A debt collection attorney is an attorney like all others. All attorneys graduate from law school with a JD, or juris doctor. All attorneys receive this degree, regardless of their specialty or focus during their career. Some attorneys may choose to further their legal education by pursuing a secondary degree,
How do you get paid when you’ve won your New York debt collection case and have a money judgment? One way could be through a NYC marshal’s sale. Your debt collection lawyer may recommend involving the marshal to help collect. The marshal gets involved after the issuance of a property
One year is considered the magic number when trying to vacate a default judgment. But why? New York law states that a person who is not personally served with a summons and complaint has one year from learning about the judgment to defend the case and vacate the judgment. According
As a service provider, you likely know all too well that sometimes the insurance company pays the client directly. But what happens if your customer keeps the insurance payment? If you’re looking to get paid, you should know the law governing New York debt collection that applies when the customer
Proposed changes regarding the removal and reporting of medical debt may lead you to change how you do business if you rely on credit reports when deciding whether to grant credit, In June, the Consumer Financial Protection Bureau (CFPB) proposed some major changes related to the reporting of medical debt
What is a non-military affidavit and how does it relate to New York debt collection? Filing suit against an individual? Regardless of whether your debt collection case is a commercial or consumer claim, there are additional requirements when seeking a judgment against someone. An affidavit or affirmation of non-military affidavit
In debt collection, speed matters. To ensure quick success in obtaining a debt collection judgment, all settlement agreements should have a default provision. A judgment clerk can enter judgment on default, without obtaining a court order, when the creditor has set forth and supported with documentary evidence a claim for
Earn up to 1 CPE Credit* Program Description: Alternative Dispute Resolution (ADR) clauses in Engagement Letters: The ADR process, costs, fees, and financial impact when collecting accounting fees. Learning Objective: Participants will gain an understanding of the financial implications of Dispute Resolution (ADR) clauses in Engagement Letters and it’s impact