Imagine your business bought a specific type of food in bulk from a reseller, paid for it, and subsequently sold it to over 500 customers. Then, after your business paid for and resold that food item, you receive notification from the reseller who originally sold you the item stating that
In response to your demand for payment, you were advised that the court appointed a receiver. What is a receiver, how are they appointed, and what effect do they have on your debt collection claim? Receivers are court-appointed individuals who assist in a variety of situations. Receivers are common in
On December 31, 2021, Governor Hochul signed the Fair Consumer Judgment Interest Act into law. This amended the post-judgment interest rate on all judgments against consumers from 9% to 2%, effective April 30, 2022. As part of the law, any current income executions need to be amended with their respective
Are you wondering what documentation or proof you will need to provide in order to vacate a default judgment in New York? Similarly, do you need proof to vacate a judgment entered pursuant to a confession of judgment you signed outside of New York that was entered in New York
Aside from judgments from family court, New York currently allows all judgment creditors the same opportunities to enforce their judgments. The remedies available differ based on whether the judgment is entered against a natural person, an individual, or a corporation. The nature of the debt alleged in the underlying action
New York gives full faith and credit to judgments entered in other states as required by the Constitution and under New York Civil Rules, provided the judgment was not entered on default and not entered pursuant to a confession of judgment. If you are wondering whether there is a time
Are you or your collection attorney attempting debt collection efforts even though the debtor filed for bankruptcy? If so your collection attorney is exposing you, the law firm, and themselves to personal liability for a money judgment that could far exceed your claim. Enforcing a claim and/or a judgment against
The verdict in a recent court case has delivered another victory to assist New York consumers defending debt collection efforts in the state. The court has refused to prevent non-lawyers from the New York-based nonprofit Upsolve from offering legal advice to help consumers defend debt collection lawsuits. This goes against
Confessions of judgment may no longer be permitted as part of the necessary documents when buying or selling financial services or products to consumers in New York. Senate bill S2632 is another overt action taken by New York state to limit the entry of judgments without due process to the
Can you use a judgment to restrain a bank account or other assets maintained by a judgment debtor outside of New York state? When it comes to out-of-state debtors, restraining a bank account is possible, but depends on certain factors. Consider the following situation. A New York creditor files suit