Case Study 1
Our client came to us after not being paid for supplying armed security personnel to the defendant’s housing complex.
The defendant claimed our client never performed the work and that the time records were fraudulent.
The case was highly contested and remained in litigation for several years.
Once the trial was complete, we received a Judgment for our client in the full amount, plus interest and court costs, a sum of money over $165,000.00.
We immediately sent a subpoena to the defendant’s bank, froze their account and our client was paid in the full amount.
Case Study 2
Hats off to my daughters’ dentist’s office. When we are finished, Sheri at the front desk asks if I would like to pay by Amex or Visa as she is scheduling the next appointment. One time, I asked to pay 1/3 on the spot and the balance over the next two months. Sheri, smiling, agreed to my proposal and told me she would call in 30 days. Like clockwork, my cell phone rang in 30 days and guess who it was? Sheri was calling for the next installment. Since I had promised her I would pay the second installment, I fumbled for the card (they do not keep the information on file) and authorized payment. Thirty days later, Sheri called and I paid the balance.
In this case, the act of asking to be paid (the conversation in the office, the phone calls) promotes payment beyond simply invoicing. It has been our experience that a quick phone call can be more effective than months of repeat invoicing. In the event you are told “no”, you have the opportunity to renegotiate the sale or move it forward to collections.
Does anyone have a similar story or experience in which they asked for payment and didn’t get paid?
Case Study 3
The word on the streets of New York and Korea was that our client’s customer was notoriously slow to pay their vendors. Our client, a Korean manufacturing company, was owed $429,000.00 and did not want to wait to be paid. They contacted our New York business debt collections law firm to handle the claim.
Both our client and the debtor have offices in New York and Korea. In order to expedite and maximize the amount of payment, our client sued the debtor in New York Supreme Court. The debtor, in disbelief, did absolutely nothing to defend the case.
Once judgment was entered, we were able to restrain the debtor’s merchant account maintained with the debtor’s financer. The financer lent the debtor close to a million dollars and was holding hundreds of thousands of dollars in inventory. The financer postponed calling in their defaulted loan because they believed the debtor had the ability to sell the inventory at a vast mark up. This would have brought tremendous profit to the debtor and the financer, repaying the entire loan.
The financer had a vested interest in keeping the debtor afloat. Rather than call in the loan and be stuck with the large quantities of inventory, the financer decided to work with us to help get our client paid. We all had the same goal in mind, keeping the debtor solvent so that our client could get paid in full.
Had our client sat back and waited for the debtor to pay them, chances are, they would have received very little, if anything.
Case Study 4
Our client, Kureha, was owed about 150K from a customer in Ohio. The debtor claimed an inability to pay. Client understood that if they were going to collect the monies owed them; they would need to apply pressure. Client’s best chance to get paid was now, before debtor’s financial situation worsened.
Client’s contract required arbitration with the International Chamber of Commerce (ICC) here in New York. Moving forward with Arbitration with the ICC required client pay several thousands of dollars for a filing fee. Rather than hesitate, client asked that we file the request to arbitrate immediately.
Within hours of client’s request, we filed the request to arbitrate. The ICC’s office is located a few blocks north of our office. We filed the request in person and had a copy stamped indicating filing. Upon returning to the office, an email was sent to the defendant’s attorney advising of the filing, with proof.
Needless to say, the defendant’s attorney was surprised our client was moving forward so swiftly with pursuing New York debt collection. Both he and his client were banking on our client dragging their feet, perhaps spending countless days/weeks in conversation that would not lead to payment in full.
In the end, within thirty (30) days, the defendant wire transferred the full amount owed to our escrow account; the parties exchanged releases, without the need for the entire arbitration fee being paid. This result is due to our client proceeding and filing for arbitration here in New York.