How to Collect a Bad Debt in New York City

Photo of a wallet in a clamp.Are you looking to collect from a customer operating in NYC? Here’s what you need to know about collecting bad debt in New York City.

The first step is the demand phase, which is all about writing, emailing, calling the customer and asking for money. Do this from anywhere. If you can part your debtor from their money in the demand phase, consider yourself lucky, even if it means settling for a few dollars less because you avoided the expense of litigation, mediation, or arbitration – not to mention uncertainty. You recovered your monies and can move on.

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NYC Debt Collection Litigation: Court awards 9% on unpaid balances

images (11)After failing to receive any payments for monies owed, you’ve decided it’s time to proceed with debt collection litigation. However, the original agreement you and your client laid out did not specifiy terms in the event of delayed or nonpayment.

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