Blog

CFPB Proposes Changes to Fair Debt Collection Practices Act

A red wallet with money spilling out.News is abuzz about changes to how “debt collectors” can contact consumers to collect debts. Texts, emails, voice messages and more are part of the changes to the Fair Debt Collection Practices Act proposed by the Consumer Financial Protection Bureau.

Federal and local state statutes regulate consumer debt collection. You should be aware of what the proposed changes are, even if you are a B2B company that doesn’t do business with consumers, as it may affect your company or you, individually.

Continue reading “CFPB Proposes Changes to Fair Debt Collection Practices Act”

Read more...

How Much Pressure Should You Apply to Collect Monies Owed

Image of a pressure gage.When a client is ignoring your demands for payments, you need to do something to move debt collection forward. That something is applying the right amount of pressure.

Professionally speaking, you do not want to strongarm your client or have your actions considered harassment, intimidation or any other unethical behavior.

How much pressure to apply depends on what stage of collections you are in. The goal is to apply enough pressure so that the debtor must pay. Apply too much pressure and you run the risk of putting them out of business.

The following are examples from two recent cases in which we sued and obtained judgments.

Continue reading “How Much Pressure Should You Apply to Collect Monies Owed”

Read more...

New York Debt Collection in the Beth Din

Stained glass with the Star of David.For those of the Jewish faith, the Beth Din is an option to traditional legal debt collection in New York.

New York state recognizes the rabbinical court. As such, any arbitration awards are enforceable in New York state courts. This means that any award rendered by the Beth Din can be confirmed in a New York state court and converted to a judgment.  Continue reading “New York Debt Collection in the Beth Din”

Read more...