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
Can you sue a company that doesn’t exist? Let’s say your company has unknowingly been selling goods to a fake corporate entity called “ABC INC.” From all indications, ABC INC. complies with all aspects of corporate formalities. All purchase orders are issued under ABC INC.’s name at ABC INC.’s corporate
When a debtor owes a creditor money and the creditor is seeking assistance collecting the amount owed, the creditor can either use a collection law firm or a collection agency. Law firms and collection agencies serve the same purpose initially. Both can send a demand letter and call the debtor
Are you using artificial intelligence to support your debt collection efforts? If not, you may want to employ the powers of AI to assist and boost your recovery rates on accounts receivable. Despite fears that AI will replace all human functions, AI won’t replace your collections department. However, your collections
You may hear a client claim that the person who requested the goods or services or, in some cases, who signed the contract, had no authority to do so. As a result, the client refuses to pay. Who can sign a contract and can a debtor refuse to pay on
When considering what funds are exempt from judgment enforcement and the reach of judgment creditors, New York and the federal government draw a line between enforcing judgments against consumers and enforcing judgments against commercial entities. COVID-19 stimulus payments were the latest addition to the list of assets exempt from execution
Credit card processors often offer loans to businesses that accept credit cards. While these loans may have seemingly inviting agreements, there are some terms that offer the credit card processor speedier debt collection relief against you. Here are a few things you may want to consider before agreeing to the
If collecting debts owed to your business is draining your time, patience, and resources, it’s time to consider hiring a professional. The internet is awash with ads for collection agencies that promise to obtain money for you, but their harsh and aggressive collection techniques could reflect badly on your business.
Should there be another court shutdown in 2021, you may be wondering how to maximize debt collection in 2021? New York on PAUSE in March 2020, closed New York courts for almost all debt collection efforts. The need to get paid to stay afloat was not considered urgent enough to
The route your debt collection case takes depends upon the nature of the debt, your underlying agreement with the client, their financial situation, and which NY debt collection options you’re open to. Factors that can impact your decision include the amount owed, the non-paying customer’s location, the underlying agreement between