If you want to keep your business solvent, you must collect payment for the goods or services that you provide. Unfortunately, not all of our customers are trustworthy. Unless you're a full-time entrepreneur, you probably don't have much free time on your hands.
The services of debt collection lawyers are very beneficial to companies and people who are having trouble collecting bills that are due. If a judgment is obtained in your favor, a collections lawyer may be retained to pursue further collection proceedings to ensure that the debtor adheres to the conditions of the judgment and pays the amount owed.
Benefits of hiring
As a company owner, you are wholly accountable for the handling of the money flowing into your organization. If you operate in a field where you cannot fully collect payment at the time the product or service is provided, you will probably have experience with clients who do not pay their accounts on time.
When a customer fails to make a timely payment, you have many options- you may handle the situation yourself by sending out letters, you can turn the account on to a collection agency, or you can turn the account over to an attorney who specializes in collecting.
Many companies refrain from attempting to manage collections on their own since the procedure may be overwhelming and many laws and regulations must be followed, among other reasons. That leaves you with the decision of whether to hire a collection agency or a collection attorney.
As a knowledgeable New York collection attorney, they will assist you in navigating the debt collection lawsuit procedure in the state of New York.
It is very simple to go through the debt collection lawsuit procedure in New York. It all begins with the summons and complaints being submitted to the New York Court. In the next section, we will look at three potential outcomes:
● After the summons and complaint have been served, the matter concludes.
● The debtor responds to the complaint or seeks to dismiss the action, and the lawsuit proceeds.
● The debtor fails to attend and/or answer the summons and complaint, and a judgment is filed and enforced to recover payment of your New York debt collection claim.
A debt collection attorney may assist you in recovering your money when ordinary debt collectors have failed to do so. An attorney, on the other hand, may charge you a fee even if your debt is not collected.
Published by Simon Hopes