One of the most stressful aspects of being in business for yourself in New York is attempting to collect on delinquent monies owed. You may not have realized until recently how many overdue balances or old accounts receivable are on your books. Most businesspeople do not know the first thing about how to go about collecting what they are owed. Maybe you have reached out and even received promises to pay, but everyone knows what “the check is in the mail” means.
If you run a business, you likely do not have the time to chase money owed to you, but you cannot afford not to because sooner or later it will impact your ability to conduct business or, worse, hurt your bottom line. The experienced attorneys at Bailyn Law can help you collect what you are owed, often without having to file suit.
The first step in the collection process is usually a demand letter. They must be written carefully, containing certain information since these letters may become exhibits in lawsuits. Additionally, the time in which to send a demand letter is important because different types of debts have different statutes of limitations in New York. We are familiar with the intricacies of collection matters in New York and will ensure that yours is handled right. Call us for a consultation.