Appellate Practice Attorney serving New York, NY
Assuming that there is no cure period set forth in your agreement (i.e. something along the lines of "customer will have ten days from receipt of written notice of default to cure"), you could have pursued legal action the instant payment became overdue, even sooner if they had told you beforehand that they will not pay. Most people wait a little while because there is no sense spending money on a lawsuit if they think payment is going to be made within a short time anyway.
Answered on Oct 24th, 2013 at 1:43 PM