Here’s why you need a collection attorney in New York

Dealing with debtors is rarely easy, even when you have the necessary judgments. In fact, data & studies show that over 70% of all judgments are not enforced or collected. When you are unsure of how to collect money or enforce a judgment, hiring an attorney could be a wise idea. Working with an experienced New York collection attorney can help you manage your finances better. Also, an attorney is different from a debt collection agency. Here’s more on what you need to know about hiring an attorney. 

Benefits of attorneys over debt collection agencies

Clients and debtors are expected to pay on time. Unfortunately, things may not move as smoothly in the real world. Let’s not undermine the work done by debt collection agencies. An agency can have the authority to collect money on your behalf, but you will still need an attorney when it comes to legal action. In other words, when it comes to suing the debtor or client, you will need to hire an attorney. Lawyers are not merely law experts but have more experience handling court orders and judgments. A skilled attorney can help you recover legal fees, invoices, fees, notes, and other kinds of debts. If the other party refuses to cooperate, the lawyer can consider other options. An agency cannot pretend to work as an attorney for debt collection. 

What can an attorney do for you?

The role of collection attorneys is often undermined. First and foremost, your lawyer can help evaluate the true worth of your claim, and you can expect 100% confidentiality in the matter. They will also answer your questions, explain the legal options and rights available to you, and investigate the case accordingly. They will check the financial records, consider what can be possibly done other than suing the at-fault party, and develop a strategy that can protect your interests and money. There is also the statute of limitations in NY, which sets the deadline of 20 years for enforcement of judgments. While that deadline is 20 years, you shouldn’t be delaying your chances of recovery because, with time, it can be hard to enforce a judgment. 

Not all attorneys specialize in collections and enforcement of judgments, and therefore, experience and expertise are key factors for choosing between lawyers. Take your time, but don’t forget to hire one – Running your business will be a much easier task without the losses.