Can you register a foreign judgment in NY? Fortunately, the answer is a resounding yes! After obtaining a judgment in federal court, you can register the judgment in NY’s state court. And you should. Let’s talk about why you should.
Attorneys and their clients love to leverage the element of surprise. You want to seize assets to satisfy a foreign judgment once registered in New York. Consequently, you don’t want to provide notice of the judgment’s registry in New York. But what if you don’t have to? Perhaps providing notice of the judgment’s registration is not the law. Continue reading “Register a Foreign Judgment in NY”
Unclaimed funds, consider them to satisfy your NY debt collection claim.
Voluntary payment is not happening and you want your money. Generally to get paid money owed, you must obtain a judgment. The next step is to locate assets to satisfy the judgment. One way of satisfying a judgment is through unclaimed funds.
“Lost or unclaimed money gets turned over by organizations required to report dormant accounts to the New York State Office of the State Comptroller. This money includes things like forgotten savings accounts, lost paychecks, and stocks or bonds.”
Continue reading “Unclaimed Funds and NY Debt Collection”
Debt collection agent or write off a bad debt, which is the way to go? Read on for help in preparing for the decision.
The end of the year is approaching with tax season just around the corner. Your tax professional will soon ask for a list of your accounts receivable. The question will be what you want to do about bad debts. Should you write off a bad debt and take a bad debt reduction? Or, do you send it to a debt collection agent? This will give you an understanding of two common options. Continue reading “Debt Collection Agent or Debt Write-off?”
New York debt collection claim practices have been in the news. There’s been publicity recently about debt collection practices of the merchant cash-advance industry. It can shed light on how to avoid legal disputes in your debt collection claim.
It doesn’t matter whether it’s money loaned, services rendered, or goods sold and delivered. You want your money. When seeking to enforce your right to get your money, the borrower/client sometimes looks to delay. They may vehemently thwart the debt collection claim by creating issues where none existed. They may also file baseless counterclaims. Continue reading “New York Debt Collection Claim Practices”