In debt collection, speed matters. To ensure quick success in obtaining a debt collection judgment, all settlement agreements should have a default provision. A judgment clerk can enter judgment on default, without obtaining a court order, when the creditor has set forth and supported with documentary evidence a claim for
Earn up to 1 CPE Credit* Program Description: Alternative Dispute Resolution (ADR) clauses in Engagement Letters: The ADR process, costs, fees, and financial impact when collecting accounting fees. Learning Objective: Participants will gain an understanding of the financial implications of Dispute Resolution (ADR) clauses in Engagement Letters and it’s impact
On May 16, the Supreme Court rejected a challenge that would affect the future of the Consumer Financial Protection Bureau (CFPB). Established in 2011, the CFPB protects consumers from predatory and irresponsible lenders in the financial sector. A group that includes banks, credit card companies, mortgage lenders, other financial companies,
In April, following an investigation by Attorney General Leticia James’ office, Pathward (formerly known as MetaBank) was required to refund money to account holders after unlawfully sending frozen deposits to creditors. In addition to refunding the monies, the bank also had to pay penalties for the unlawful freezing of the
Seeking to keep a debt collection claim alive by sending repeated invoices or statements to delinquent customers? You may be surprised to learn how the invoice date affects your New York debt collection case. New York’s statute of limitations dictates your ability to start a debt collection claim in New
New York debt collection laws allow judgment creditors many ways to collect from debtors. One option available is to take over or “charge” a judgment debtor’s interest in an LLC or limited liability company. An LLC is a separate entity that offers personal liability to each of the shareholders or
You made a wire payment based on the instructions you received. Unfortunately, the instructions were fraudulent and the payment never reached the vendor. Can you be required to pay again if you made a payment based on fraudulent wire instructions? Wire and ACH payments are preferred to paper checks, credit
CNN reporter Fredericka Whitfield interviewed Jocelyn Nager, president of Frank, Frank, Goldstein & Nager on Sunday, March 24 to discuss former President Donald Trump’s civil fraud case. Reports stated it may not be possible for the former president to bond the state’s nearly half-billion ($500,000,000) judgment. Following the interview, the
On March 5, 2024, New York State Attorney General Letitia James filed a lawsuit against Yellowstone Capital, a merchant cash advance company, for orchestrating a predatory lending scheme. The lawsuit also names Yellowstone’s founders individually, and 30 other subsidiaries and officers. The petition alleges Yellowstone exploits small businesses through fraudulent
Looking to domesticate an out-of-state default judgment in New York? If so, then you will need to know the judgment debtor’s address in order to serve them as per New York state rules. Service is necessary in order to domesticate a judgment in New York. New York does not recognize out-of-state