See why Fortune 50 companies trust Cedar Financial to recover debt in New York City.
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Levies
Garnishment
Liens
Open Invoices
Unpaid Invoice Interest Rate | Up to 16% |
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Can Collection Fees be added? | Only if expressly authorized by agreement or permitted by law |
Statute of Limitations/Prescription | 6 years |
Judgments
Post Judgment Interest Rate | Up to 9% |
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Judgment Expiration | 20 years; 10 years for judgment liens on real property |
Can judgment be renewed? | Judgment liens can be renewed another 10 years |
We are licensed and accredited to collect your debts in New York City. With over 30 years of debt collection experience, we adhere to all local, state and federal laws, including the Fair Debt Collection Practices Act (FDPCA) and New York City debt collection regulations, using a fair, but firm approach for faster recovery of your funds.
For pre-legal services, we work on a “no collection – no fee” basis, so you will only pay when your funds are recovered. For legal services, we offer low-cost options.
We have no minimum value or volume that is required to place accounts.
We service consumer and commercial debts, large or small, across many industries, including Healthcare, Education, Government and Retail.
It varies. Factors such as the age of the account and the type of debt being collected must be taken into account, along with the specific circumstances of the claim. Because we know timely results are important to you, we guarantee an update on your claim within 30 days
Once we receive your accounts and the proper documents to validate the claim, our representatives will begin by skip tracing the accounts to locate the debtor. We will then immediately start working the account via phone and mail and issue a written demand notice allowing 30 days for debt validation as required by the FDCPA.
The statute of limitations in New York is six years
If your debtor is unresponsive to communication attempts, we provide on-the-ground field services for investigation, skip tracing, in-person visits at your debtor’s residence, asset searches and more.
Yes, we must be able to validate the debt before we can begin the collection process. Validation documents include, but are not limited to, contractual agreements between you and the consumer, a bill or invoices for exchanged goods or services, as well as, legal court judgment documents.
Yes. In the event all amicable efforts are exhausted, our in-house legal team will conduct a thorough review of the file to determine collectability in litigation. If the file qualifies and you approve, we will work with a top local attorney in New York City to file suit and pursue the claim, including asset location, arbitration, trial representation, obtainment of a judgment and post-judgment enforcement.
Yes, but they must be included in the contract.