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
New York state law governs most merchant cash advance agreements – even though neither the borrowers nor lenders are typically located in New York. When there is a default on these agreements, the lender must pursue the borrower through debt collection in New York. Until recently, all agreements secured by
Join Frank, Frank, Goldstein and Nager’s managing partner Jocelyn Nager for webinar on New York’s Consumer Credit Fairness Act. The act, which was signed into by Governor Kathy Hochul in November and largely goes into effect in May, changes rules around consumer debt collection. Some changed, such as the reduction
By choosing to enlist the help of a debt collection law firm you can take advantage of a number of different debt collection options to assist in the collection of monies owed to you. Understanding the options available to you and your tolerance for risk will allow you to make a
Is it possible to protect your company from extreme events out of your control like COVID-19? If your contracts and agreements have a force majeure clause it may be possible. For the purpose of illustration, let’s use the example of a private school operating in New York during the pandemic.
Some creditors voluntarily decide to participate in mediation for debt collection. For others, mediation may be mandatory based on the terms of the underlying agreement between the parties or ordered by the court. As such, it’s important to understand how non-binding mediation can affect your overall debt collection case. One
You have taken the steps necessary to domesticate an out-of-state or foreign country judgment in New York and are ready to start restraining assets to satisfy the judgment. Before you make your next move, there is a step our firm recommends taking before you execute on a domesticated judgment in
It’s important you verify the information contained in a debt collection affidavit before you sign it. An affidavit is sworn testimony used to support your debt collection case. As with any signed document, you are “charged” with having read it and if it’s untrue, you run the risk of perjury
Many of us accumulate things; more than most of us city dwellers can store in our New York City apartments, and so, we store them in storage facilities around town. Storage is a big business, especially in New York. Whether you have goods in storage or work in the storage
Testimony in debt collection actions may be made verbally or in writing by way of an affidavit, a sworn statement, or affirmation. In the past, affidavits for debt collection purposes typically required traveling to a notary, however, virtual notary services now remove the need to leave your home. Remote Notarization