Real estate is big business in New York. You don’t need to own property to make money either. As a supplier or service provider, selling to co-ops and condos can be very lucrative. Just like the real estate business, debt collection in New York is also nuanced and has its
The legal rate of interest that can be awarded in a money judgment against an individual person is expected to be reduced as New York continues to protect the rights of individuals. The laws of usuary, which specifies the legal rate of interest that can be charged to a consumer
Once the Check Clearing for the 21st Century Act (Check 21) came into effect in 2004, banks could handle checks electronically thereby increasing the speed of check processing and reducing the costs of handling and transferring physical checks. Today, most financial institutions offer a mobile deposit option that lets people
If the New York court system is unified, does the court you choose to file your New York debt collection claim in make a difference? An outside observer would believe the court’s unified title implies that each of the 62 counties of the New York State Judiciary operates under the
Some people believe if they make payment on bills placed for collection they will avoid legal debt collection. Further, the payor believes that their decision to pay amounts at their discretion prevents the creditor from moving forward in the collection process and going “legal.” Does paying down a debt mean
Whether you are looking for assistance with collection efforts or want to make sure your current vendor is in compliance, you should be familiar with the laws that govern New York debt collection. This way you can be sure your agency or attorney is in compliance. It should be noted
After improving the value of real estate and not getting paid, you filed a mechanics lien. Because you believed you were entitled to more, you filed the exaggerated mechanics lien for more than owed to you under the contract. Due to this additional amount, the lien is now “exaggerated.” According
You agreed to settle and now, before signing the paperwork, have second thoughts because you are not happy about the terms of the settlement. Can you change your mind about settling your New York debt collection case? During a legal case, all parties may agree the case should be settled.
The manner in which you execute an affidavit to support your debt collection case will impact whether the court admits it as evidence. Here are some tips to ensure you properly execute an affidavit to support your New York debt collection case. New York creditors who sign affidavits before a
If you are domesticating a foreign judgment in New York, it’s important to understand the defenses the defendant can take to defeat the domestication. Some states, like New Jersey, allow you to record an out of state judgment with very few requirements. The out of state judgments are offered full