The New FICO Scoring Brings an Increased Risk of Bad Debt to Lenders
Proposed changes to FICO scoring benefit the habitually late payors. Result for lenders is increased risk. If a consumer paid or settled a bill with a
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Tips from a New York City Collection Attorney: Selling on Terms Makes You a Lender. Here’s How to Act Like One.
Are you selling goods or equipment to your customers on terms? If the answer is yes, you are financing the purchase, you are a lender. As a lender, you should do more than sit back and wait for payment to arrive. One of the ways you can insure the best possible
Arbitration Award in Your Favor? Now What?
Your customer didn’t pay. Because your contract required you to go to arbitration, you did. The arbitration was held and you won your case. Award was rendered in your favor for the full principal balance due together with costs and interest. A copy of the arbitration award was mailed to the customer but you still haven’t been paid. Can you now go ahead, enforce
New York Commercial Debt Collection: Do You Follow Through to Get Your Claim Paid?
Research in the UK indicates many small businesses fail to enforce their rights to get paid. The customer is hoping your emotions will over take your desire to pursue the monies owed on the New York commercial debt collection claim.
Will Profitability Increase as a Result of Outsourcing Debt Collection? Is the IRS a Model to Follow?
Public and Private businesses as well as Governmental units alike are challenged with the task of increasing profitability. It has been reported that it costs the IRS 50 cents on every dollar collected. It should be noted that approximately 7-8% of taxpayers are delinquent.
New York Collection: Do Your Credit Documents Support Your Case?
Our client had a great credit policy to protect themselves in the event they needed to pursue New York collection. They had all prospective customers complete credit applications. Accompanying the credit application was a separate guaranty of account for an Officer of the corporate customer to sign agreeing to be personally liable for
Update from Your Collection Lawyer: Federal Government Shortens the Amount of Time it has to Collect Monies Owed to the Social Security Agency
This update from your collection lawyer is about how the Social Security Administration had been collecting past due debts from people and their families without any regard to how old the debt was. There was no statute of limitations as to how long someone could owe taxes.
Now That You Have a New York Judgment, Can You Garnish Wages?
Congratulations on obtaining a New York judgment for monies due and owing to you or your company. Whether the claim was vigorously defended or the defendant failed to appear in the case, the end result is the same: a piece of paper, a judgment. Winning your case gives great satisfaction but does
Judgment Enforcement: Jocelyn Nager to Speak About Practical and Procedural Aspects of Judgment Enforcement at the New York State Bar Association CLE Program
Jocelyn Nager, Esq., President of Frank, Frank, Goldstein & Nager, P.C. a certified WBE company, Highly Commended by CCR (Credit Collections & Risk) at the Credit Excellence Awards in 2013, has been chosen to speak about practical and procedural aspects of judgment enforcement. She will be speaking at the New York State Bar Association
Your Customer is Out of State, Can You Collect the Commercial Claim in New York?
Demand for payment from your customer can be made from anywhere in the world. But what happens when your customer refuses to make a deal with the collection firm to pay the balance owed on your commercial claim and you need to sue? Suing in New York is beneficial to the creditor.