Facing an inquest as part of your debt collection case? Knowing how to prepare for an inquest is crucial if you want to recover the most money in your debt collection case.
There are two main components you’ll need to prove in your debt collection case: liability and damages. You must prove both of these in order for the court to award a judgment in your favor.
First, you will need to prove that your non-paying customer is legally obligated to you. This is done by proving the parties had a binding agreement. Agreements are not always a written contract, however, you would have to prove there was an agreement for the goods and services to be sold, loan to be made, and that the party failed to pay.
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You completed your end of the deal but when it came time to pay your customer did not. After repeated invoicing, the customer finally offers to settle the balance due in writing but does not pay. Now that you are enforcing your right to collect and pursuing “legal” options, the debtor has changed their tune. Your non-paying client is now defending the debt collection case you brought against them. The debtor has also included sham counterclaims claiming the services or goods were defective.
How is this possible given their previous offer to settle? Isn’t the mere fact that they offered to pay proof they owe the money? It depends.
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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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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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