Bari J. Gambacorta, Shareholder in Stark & Stark’s Collections Group, will present a seminar at the National Association of Retail Collection Attorneys (NARCA) Fall 2010 Collection Conference. The conference will be held October 21-23, 2010 at Caesar’s Palace in Las Vegas, Nevada.
I am often asked by clients whether prejudgment interest can be obtained from debtors on unpaid claims. Prejudgment interest is usually awarded by the courts in New Jersey only when a written contract exists between the creditor and the debtor which includes a provision for the assessment of interest if payment is not received by the creditor in a timely manner.
Creditors should keep certain things in mind with respect to collection of past-due obligations.