NY Employer’s Responsibilities When Served With an Income Execution

Man in a gold shirt talking with his hands.The scenario: You’ve been served with an income execution by the Sheriff or City Marshall to withhold wages from your employee’s paycheck for a debt owed.

Other than more paperwork, what else could it mean for you and your business? Understanding your responsibility as an employer is essential if you want to avoid liability and paying a debt that wasn’t yours to pay.

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Unclaimed Funds and NY Debt Collection

lit up dollar signUnclaimed funds, have you consider them to satisfy your NY debt collection claim?

So voluntary payment is not happening and you want your money. In the first place, to get your money, you must obtain a judgment. The next step is to locate assets to satisfy the judgment. One way of satisfying a judgment is through unclaimed funds.

“Lost or unclaimed money gets turned over by organizations required to report dormant accounts to the New York State Office of the State Comptroller. This money includes things like forgotten savings accounts, lost paychecks, and stocks or bonds.”

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Meet Your Debtor Face to Face

Two men shaking hands.Is there value in an old-fashioned sit-down with your nonpaying client?

You caught the client’s attention and now they would like to meet. Should you? Is it worth your time? Could it lead to a resolution? Seems that the client now wants to discuss the claim and have asked for a face to face meeting. They had ample opportunity to do so before you started the litigation process. So why now?

Perhaps the filing of the lawsuit was the trigger. Not only do they recognize that you mean business and that your goal is collecting the monies owed you.  Continue reading “Meet Your Debtor Face to Face”

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