Assume 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
A client of ours in the waterproofing business asked for our best practices when enforcing a judgment. Best practices would generally infer that judgment enforcement is the same no matter the creditor’s industry, but that’s not the case. Best practices to enforce a judgment differ based on the judgment debtor’s
Once the Check Clearing for the 21st Century Act (Check 21) came into effect in 2004, banks could handle checks electronically thereby increasing the speed of check processing and reducing the costs of handling and transferring physical checks. Today, most financial institutions offer a mobile deposit option that lets people
Say you’re a merchant of goods and have a customer that places a $100,000 order to be delivered by September 15. The goods must be delivered in a timely fashion so that your customer can fulfill their contractual obligations to resell the units to their customers. Due to supply chain
Frank, Frank Goldstein & Nager is proud to announce that it has been recognized by Inc. Magazine’s prestigious Inc. 5000 list as one of the fastest-growing private companies in the United States. After a tumultuous year for global trade, finance, and health, Inc. has recognized FFGN as a company that continues to
If you have a judgment against a person who owes you a sizable debt and had little success enforcing the judgment through traditional means, alternative options might afford better results. When the usual steps, such as levying the debtor’s bank account and garnishing the debtor’s wages, result in little success
Are you in possession of goods that belong to someone else? If so, you may want to consider making a deal with your non-paying customer that allows you to keep the goods so that you can resell them. Goods and equipment have value, maybe more so now that the supply
Did you know you can take a security interest in goods sold on terms? This option is available as long as the customer agrees, and the goods are not owned by or pledged to another. Security interests offer an advantage if the buyer defaults, and provide you alternative debt collection
After New York Governor Andrew Cuomo signs the Consumer Credit Fairness Act (S.153/Thomas) into law, many creditors will need to provide significant documentation in order to file a debt collection action against their non-paying consumers. The proposed law, which the Senate approved in May, shortens the time to collect consumer credit transactions
After New York Governor Andrew Cuomo signs the Consumer Credit Fairness Act (S.153/Thomas) into law, many creditors will need to provide significant documentation in order to file a debt collection action against their non-paying consumers. The proposed law, which the Senate approved in May, shortens the time to collect consumer