Which Funds Are Exempt From Judgment Enforcement?

Zoomed in image of a $100 bill to represent Funds Exempt From Judgment EnforcementWhen considering what funds are exempt from judgment enforcement and the reach of judgment creditors, New York and the federal government draw a line between enforcing judgments against consumers and enforcing judgments against commercial entities.

COVID-19 stimulus payments were the latest addition to the list of assets exempt from execution by judgment creditors in New York. Benefits payable to companies were not exempt and, as of October 2021, may still be restrained by a judgment creditor enforcing a judgment in New York against a commercial debtor.

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What You Should Know Before Taking a Loan From Your Credit Card Processor

person using a credit card to represent credit card processor loanCredit card processors often offer loans to businesses that accept credit cards. While these loans may have seemingly inviting agreements, there are some terms that offer the credit card processor speedier debt collection relief against you.

Here are a few things you may want to consider before agreeing to the terms of the loan.


With most loans, failure to pay as required by the underlying agreement or failure to maintain a minimum balance constitutes a default in the loan agreement. Loans from a credit card processor work differently. There are many ways to default under the terms of the lending agreement:

  • A predetermined percentage drop in total sales
  • A predetermined percentage drop in settlement amount
  • Failure to process any charges through the processor during a fixed number of days
  • Use of another credit card processor
  • Worries from the credit card processor and/or their lender that they won’t be repaid

The laundry list of situations that constitute a default makes it far easier for a buyer to “default,” which enables the lender to accelerate payment, penalties, and the like.

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Jocelyn Nager Named Super Lawyer for Sixth Consecutive Year

Jocelyn Nager, Super LawyerMs. Jocelyn Nager, managing partner of the New York debt collection law firm Frank, Frank, Goldstein & Nager P.C., has been named a “Super Lawyer” for the sixth consecutive year.

Super Lawyers rates outstanding lawyers from more than 70 practice areas, recognizing no more than 5 percent of attorneys in each state. Lawyers featured have attained a high degree of peer recognition and professional achievement and are evaluated through rigorous independent research, peer nominations, and peer evaluations.

This honor follows Inc. Magazine recognizing FFGN on its prestigious Inc. 5000 list in August. as one of the fastest-growing private companies in the United States. FFGN landed at 3,062 on Inc.’s fastest-growing companies list, coming in ahead of thousands of other companies across America.

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Can You Still Obtain a Debt Collection Judgment With Poor Billing Practices?

image of a calculator to represent debt collection poor billingAssume you have a client who owes you $10,000. You have a signed contract from the debtor as well as a personal guarantee. The signed documentation clearly demonstrates both the corporate debtor and the guarantor are responsible for the debt. However, statements provided to the debtor and the guarantor make the amount they owe unclear. Unfortunately, your poor billing practices might complicate your debt collection endeavors.  So how can you obtain a judgment for the amount due against the debtor and the guarantor?

In the New York court system, under the circumstances above, the court may hold what is known as a “bifurcated trial.” Bifurcated trials are more prevalent in torts claims than contract claims, but they can occur in contract actions. In this type of trial, the court first holds a trial to determine the defendant’s liability. After liability has been ruled upon by the judge or jury, the court will hold a second trial to decide the amount of money the defendant owes the plaintiff. This amount is known as damages. This is different from a “unified trial” in which the court rules on both liability and damages in the same trial proceeding.

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