Let’s say you provided a loan to a borrower. The borrower had been paying as scheduled but now comes to you and says they are having a cash flow problem. The borrower asks for a temporary pause on payments and says they will start making payments again after that period
Our client — a successful supplier of kitchen cabinets and appliances — was a subcontractor who did business with a well-known hotel operator for over 13 years. The hotel operator, although slow to pay, always sent a payment when truly pressed. But the payments became few and far between due
What happens to the money on deposit at the debt collection lawyer’s bank if that bank fails? Could you stand to lose the money? Recent news could leave you wondering whether monies collected and deposited by your debt collection attorney on your behalf will be safe or at risk. This
Last week, a New York court ruled that the NY Guaranty Law passed during the pandemic, which prevented landlords from pursuing good guy guarantors and others for commercial property, is unconstitutional. Can you now bring a lawsuit in New York against guarantors, including those who signed good guy clauses? During
Whether the defenses raised by the debtor are valid or not, a debtor defending a debt collection case can delay collection. A debtor can buy themselves time just by filing an answer to the summons and complaint. The amount of time afforded depends on the court’s caseload and the timeframe
You may hear a client claim that the person who requested the goods or services or, in some cases, who signed the contract, had no authority to do so. As a result, the client refuses to pay. Who can sign a contract and can a debtor refuse to pay on
In order to allow creditors time to file actions that might have gone past the statute of limitations due to the shutdown of the New York courts during the COVID-19 pandemic, the governor issued a series of executive orders that have had long-term effects on New York debt collection litigation.
Debt collection is an essential service, especially in situations where your client doesn’t pay in advance. Most, if not all, businesses will utilize a debt collection service to pursue payment owed by individuals or businesses. In New York, there are differences between commercial vs consumer debt. This article will explain
Looking for a debt collection attorney but not sure where to begin? There are a lot of debt collection law firms and debt collection agencies available to choose from. What’s best for your individual case, however, isn’t always easily ascertainable from a simple online search. When it comes to search
There are many downsides to merchant cash advances. A merchant cash advance, or MCA, is a type of financing agreement for businesses. An MCA company purchases a portion of a business’s future revenue in exchange for a lump sum. That money is often repaid with a percentage of the business’