Collection attorneys in New York are typically the legal representatives who are contacted when a company has an outstanding bill that needs to be collected. They are often called on when there is a dispute about the charges or false charges or when the company is not receiving their money. New York collection attorneys can help the companies get paid what is owed by negotiating with the customer, providing litigation services, or by taking court action.
In New York, collection attorneys may help when there is a need to collect from a business debtor or an individual. There are many different types of debt that a collection attorney can help within the state of New York, including student loans, medical bills, and credit card debt. A typical practice for these attorneys is to send letters and phone calls to the debtor in order to get them to pay what they owe.
Let us now see into the most common practice areas of collection attorneys in New York.
- Judgment and fee collection
In the event that a debtor refuses to comply with a court order or any type of legal obligation, a judgment can be filed as a means of collecting. In New York, as in many other states, the interest rates on judgments are typically set by law and increase over time as the statute of limitations expires. Collection attorneys can make use of their knowledge and experience to pursue those who owe debts from the past.
- Contingent commercial litigation
The collection attorneys in New York are taking the lead as contingent commercial litigation is on the rise. Collection attorneys represent companies and individuals who have been sued for payment on their accounts. Contingent commercial litigation has become a lucrative practice for those in law as lawyers can now recover legal fees from those they’re suing.
- Appellate litigation
In recent years, attorneys in the field of law that deal with collections and debt collections have been able to utilize appellate litigation to pursue their claims. This is a new and innovative field of legal practice for this type of attorney, and it represents a new avenue for them to try and recover money owed for an outstanding account. The most prominent advantage of using this new form of litigation is the increase in the time frame allowed to file a claim.