No doubt you have already felt the effect of coronavirus on your business. As the virus spreads across the U.S., things are coming to a quick slowdown. Understanding how the coronavirus outbreak will affect your debt collection claims will help manage your expectations of recovery. How the Coronavirus Outbreak Will
The importance of giving credit for payments made can not be overemphasized when it comes to debt collection. The improper allocation of credits and payments will directly affect your claim and recovery. Failing to give credit for payments when credits are due will extend the life of your debt collection
Citing persistent abuse and a lack of state oversight, New York Governor Andrew Cuomo introduced an initiative requiring debt collection firms to become licensed with the state. A first for collection agencies operating in New York, the proposed legislation will mean more licensing for debt collection lawyers. Each state has
Don’t forget to double-check to see if the address on file with the New York Department of State for your company is correct. An incorrect address can lead to a default judgment. If your address is incorrect, you won’t receive notice of a pending lawsuit. That lack of notice can
After improving the value of real estate and not getting paid, you filed a mechanics lien. Because you believed you were entitled to more, you filed the exaggerated mechanics lien for more than owed to you under the contract. Due to this additional amount, the lien is now “exaggerated.” According
It may have been almost 20 years since you sued and entered your New York debt collection judgment, but you haven’t collected any monies. Since the judgment is set to expire, can your New York judgment get an extension past the deadline? New York State judgments are valid for 20
Looking for assets to satisfy your New York debt collection claim? According to this week’s New York Post, New York’s comptroller may have money that can satisfy your debt collection claim. The article highlights monies being held for the wealthy including the Trump Association, President Donald Trump, Jeff Bezos and
You agreed to settle and now, before signing the paperwork, have second thoughts because you are not happy about the terms of the settlement. Can you change your mind about settling your New York debt collection case? During a legal case, all parties may agree the case should be settled.
Schools, institutions, and other lenders are in the news for writing off their balances owed, thereby forgiving the debt. What are the consequences of debt forgiveness, and should you take advantage of debt forgiveness offered by a creditor? While it is true that when a debt is forgiven in whole
It is easy to navigate the small claims system. In the past, if you were owed $5,000 or less, you could bring your claim to New York City small claims court. There are advantages to taking your claim to small claims court. You represent yourself, so it’s cost-effective. However, whereas it