New York's CPLR sets a clear limitation window and a strong 9% statutory interest rate, with restraining notices as an underused early-stage tool.
New York's Civil Practice Law and Rules gives creditors a six-year window to file suit on a written commercial contract, a comparatively generous period that still rewards early filing for better recovery odds.
New York applies a 9% statutory interest rate to money judgments, notably higher than many states, which materially increases the total recovery on a claim that takes time to resolve.
Once a judgment is entered, a restraining notice can freeze a debtor's bank accounts without requiring separate court proceedings, making it one of the more efficient post-judgment tools available in the state.
Everything covered in this video, in full written form, in the complete article.
Read the full guideA creditor's guide to New York commercial debt collection: CPLR limitation periods, 9% interest, restraining notices, DCWP licensing, and enforcement tools.