FREQUENTLY ASKED QUESTIONS

 

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What geographical areas do you cover?
The firm handles claims throughout the entire State of New York.
How quickly will my claim be handled?
Initial demand letter is sent to Debtor within 48 hours of receipt of an account for collection. Any style may be chosen, or a new one created to address your company's needs.  Within five days thereafter, telephone contact is attempted for the purpose of making immediate arrangements for payment.

If amicable arrangements cannot be made, immediate litigation is recommended when there is a known revenue source or an identifiable asset to attach.
 

When does litigation commence?
When contact with a Debtor fails to produce a payment arrangement, suits instituted shortly thereafter have a high percentage of early recovery. Unless a client instructs otherwise, suit is instituted on all claims which cannot be resolved amicably that indicate a likelihood of recovery.
What is your policy on settling claims?
Claims are not settled without first obtaining the client's approval, unless the settlement is within the client's pre-arranged settlement criteria.
What are your fees?
It is proposed that fees shall be contingent on collection at CLLA rates, plus 5% non-contingent suit fee, or 20 - 45% of  all amounts recovered, plus disbursements incurred for the institution of suits and the enforcement of judgments.

An initial consultation fee may be assessed in addition to the above rates.

Fees and disbursements are billed monthly.  In addition, there is an hourly rate of $150 per hour for handling replevins, bankruptcy proceedings and hearings, appeals and other general legal work clients may request.

CLLA RATES:
20% of the first $300 recovered
18% of the amount between $300 and $2,000
13% of all amounts over $2,000.
What is your policy on remittances?
Clients receive a detailed statement of account on a monthly basis.  These monthly statements identify monies paid directly to clients, monies recovered by the firm, and disbursements incurred.   Attached to such statements will be a net remittance check, representing all monies collected, less the firm's fee and disbursements.   Any balance due the firm on such statements shall be payable within sixty (60) days.
Do you issue regular status reports?
Clients are advised of the status of every open account on a monthly basis.  This monthly computerized status report provides the updated, detailed status whether or not there was a collection or disbursement incurred on a given account.