Remote work has changed the way business is done. On your end, you might find it difficult to reach someone who can give concrete answers about payment. Or maybe documentation has been lost in the shuffle or left in an office. Work has changed in a lot of ways, but
Many prefer to receive text alerts, emails, or direct messages as appointment and payment due date reminders. Now, thanks to new debt collection communication guidelines, debt collection attorneys can use these alternate forms of messaging to alert you to an overdue bill. Although it seems like common practice to receive
The Consumer Financial Protection Bureau (CFPB) has more to do with your debt collection claim than you might think. Professionally, your business may deal with consumers directly or indirectly. Personally, CFPB has a lot to do with how companies approach you to collect debt and other financial products. You may
In order to go to trial in a debt collection case, a few things have to happen. Firstly, all parties must have joined in the case, meaning the defendants, after being served with a complaint, have had time to file an answer and request discovery, if any. For those parties
There are a number of new developments in New York State legislation that will change New York debt collection law and likely impact your receivables and collection claims, and ultimately your bottom line. In November 2021, New York Governor Kathy Hochul signed the Consumer Fairness Act, which takes effect beginning
The legal rate of interest that can be awarded in a money judgment against an individual person is expected to be reduced as New York continues to protect the rights of individuals. The laws of usuary, which specifies the legal rate of interest that can be charged to a consumer
Effective January 1, 2022, the jurisdictional limit of the New York civil courts will increase from $25,000 to $50,000. On its face, the availability of a lower-cost court to adjudicate claims which fall within the $25,000 to $50,000 sounds appealing. The cost outlay is significantly lower in the civil court
There is no state as liberal as New York when it comes to commercial debt collection and the enforcement of judgments against commercial entities. New York Civil Practice and Rules Article 52 grants the judgment creditor many liberties and privileges when it comes to enforcing a judgment. To ensure the
When 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
Credit 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