New York Issues New Consumer Debt Collection Requirements for Creditors Pursuing Legal Action

Image of a $100 bill turned into a puzzle to represent new requirements for consumer debt collection.After New York Governor Andrew Cuomo signs the Consumer Credit Fairness Act (S.153/Thomas) into law, many creditors will need to provide significant documentation in order to file a debt collection action against their non-paying consumers. The proposed law, which the Senate approved in May, shortens the time to collect consumer credit transactions from six years down to three. The law also mandates new consumer debt collection requirements including additional information in court filings about the past-due debt. Creditors must provide specific information identifying the amount owed as well as proof that the consumer owes that debt.

Continue reading “New York Issues New Consumer Debt Collection Requirements for Creditors Pursuing Legal Action”

Read more...

New York to Shorten Time to Collect Consumer Credit Transactions

vice on a wallet to represent Time to Collect Consumer Credit TransactionsToday, you have six years to collect monies owed from consumer credit transactions. However, a bill approved by the New York Senate seeks to shorten the time to collect consumer credit transactions to three years.

In a continuing effort to avoid deceptive collection practices and inequities, the Senate approved Bill S153. The Consumer Credit Fairness Act will impact creditors and consumers in the transaction of and collection of New York debt collection and is a clear signal of things to follow.

Continue reading “New York to Shorten Time to Collect Consumer Credit Transactions”

Read more...

Nassau County Imposes Extra Requirement to Obtain Debt Collection Judgments

Nassau county court house sign to represent nassau county debt collectionInterested in entering a judgment to get closer to collecting in your New York debt collection case? If so, and you sued in Supreme Court, Nassau County, you will want to know about an extra requirement to obtain a default judgment in your debt collection case.

As we wrote in a previous post, New York’s unified court system is not exactly unified. Counties may have additional requirements especially when it comes to entering a default judgment. Nassau county has jumped on the bandwagon with requirements that afford commercial and consumers additional protection regardless of whether they were directly affected by the pandemic.

Usually, if a judgment creditor sues for a liquidated sum, upon presentation of proper evidence and carefully prepared papers referred to as a judgment roll, the clerk can enter a judgment without direction from a judge.

Continue reading “Nassau County Imposes Extra Requirement to Obtain Debt Collection Judgments”

Read more...

Court Staff Returning to Work Spells Great News for Creditors

Photo of people commuting to represent Court Staff Returning to WorkChief Judge DeFiore recently announced that all judges and court personnel will return to work in person on May 24, 2021. Court staff returning to work is great news for creditors who filed or will file New York Civil Court debt collection actions in New York City’s lower courts.

An in-person return to work is exactly what creditors need to move their cases forward and hopefully obtain judgment after a year-plus wait. (Civil Court is available to most creditors filing cases up to $25,000.00 in New York City’s five boroughs: New York (Manhattan), Queens, Staten Island, Brooklyn, and the Bronx.)

Continue reading “Court Staff Returning to Work Spells Great News for Creditors”

Read more...