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Collections Law FAQs

Collections Law FAQs

What geographical areas do you cover?+
Lacy Katzen LLP handles claims throughout the entire State of New York.
What happens after I place my claim with your firm?+
Once a claim is placed with our office, an initial demand letter is mailed to the Debtor. Our initial demand letter complies with all requirements of the Fair Debt Collection Practices Act (FDCPA).

In addition to the demand letter, you will receive an acknowledgment of the claim placed with our firm and the terms agreed upon for us handling the placement.

Within the first month of placement, our staff will verify the information you provide us, skip trace if necessary and make telephone calls to the debtor in an attempt to settle the matter.

If settlement cannot be reached or an amicable payment arrangement entered into by the debtor, immediate litigation is recommended when the debtor has a known asset such as a place of employment or owns real property.
When does litigation commence?+
In the event contact with the debtor fails to produce a payment arrangement, our office will prepare a Summons and Complaint and send it to you to review and sign off on it through a verification page. Once it is returned to our office, we will file the Summons and Complaint with the appropriate court to initiate suit.
What Happens After Suit is Filed?+
Your file is advanced the appropriate number of days depending in how the debtor was served for us to enter judgment. In the event an answer is received, the file is coded accordingly and the matter is discussed with you for the next course of action. Typically, the matter can be disposed of through a summary judgment motion or a negotiated settlement between the parties.
What Happens After Judgment is Entered?+
After Judgment is entered, enforcement proceedings are immediately taken. Income execution to garnish wages, restraining notices to banks and information subpoena’s to locate other assets are utilized. All legal avenues are taken to enforce your judgment.
How much does it cost to initiate suit?+
It depends upon the court. If City Court is used, we request an advance of $250. If Supreme Court is used, we request an advance of $500. These amounts will cover the filing fee and process server fee. The advance will be returned to you dollar for dollar before our contingency rate applies.
What are your fees?+
Our fees are discussed and agreed upon prior to accepting your claim. Normally, the fee is contingency and is only earned when we collect from the debtor. Other fee arrangements include hourly charges if preferred and/or the debtor asserts a counterclaim on your action.
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 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.
Do you issue regular status reports?+
Clients are advised of the status of every open account on a periodic basis.
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Lacy Katzen Law Firm
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Rochester, NY 14604

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