As an entrepreneur and business owner, you have to work with debtors to keep your venture afloat. It is critical to work in good faith, but dealing with debtors is no easy task. There are numerous cases where companies have shut down abruptly because their operations and cash flow were affected. After all, debtors failed to repay money on time.

Just obtaining a judgment is not enough in most cases. Recovering money is another task altogether. Instead of wasting your valuable time & resources, consider meeting New York judgment and fee collection lawyers from Warner & Scheuerman immediately. Check a few essential details below! 

Recovering unpaid judgments

As an executive & business owner, your focus should be on running your company. The process of collecting judgments and fees can be extremely time-consuming and a hard battle. According to available data, more than 70% of all judgments are never collected. Whether you are dealing with unpaid judgments, commissions, notes, or other types of debts, hiring an attorney allows you to recover money through a strategic approach. 

Debtors will try different tactics

One of the major reasons why you need a judgment and fee collection lawyer is the tactics used by debtors. They will try to hide assets, and if the debtor has a common name, recovering your money can be more challenging. Lawyers know how to find and synthesize information from diverse sources, including unique databases, and if required, they will also collaborate with New York State sheriff’s offices. If you need to go to court, your attorney will represent you accordingly. 

How can a judgment and fee collection lawyer help?

If you have tried long enough to pursue your debtor but have failed to gain a response or recover your debt, an attorney will start with a comprehensive assessment of your claim. You can be assured that everything you share with a judgment and fee collection lawyer will remain confidential. They will then answer all your questions about judgments, enforcing judgments, and your legal rights as a creditor. Once the attorney comes on board, they will carefully investigate further, collect evidence, and analyze relevant financial records. The attorney will decide on the right strategy for your case to ensure you recover debts and safeguard your interests.

Deadline for enforcing judgments in New York

As for most legal matters, there is a statute of limitations for enforcing judgments too. According to New York law, you cannot recover money for a judgment that’s more than 20 years. If you don’t act, you lose the right to get your money back. While the time cap may sound enough, it is more complicated to recover a judgment as time passes by. 

How much do judgment and fee collection lawyers charge?

Many judgment and fee collection lawyers in New York work on a contingency fee for most clients. If you recover your debt and other dues, your attorney gets their fees as a percentage of the final amount. In your best interests, it is always advisable to know the fee arrangement in advance, including expenses that may become your responsibility.

Will a debt collection agency suffice?

Businesses often rely on debt collection agencies as the first attempt to recover money, but agencies have limitations. They cannot do many legal things that an attorney can do. If a debtor eventually makes it a point to not pay your due money, you have to turn to a lawyer to take the next steps. 

Don’t let your hard-earned money go to waste – Connect with a judgment and fee collection lawyer in New York today!