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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New York Debt Collection Claim Practices

one hundred dollar billsNew York debt collection claim practices have been in the news. There’s been publicity recently about debt collection practices of the merchant cash-advance industry. It can shed light on how to avoid legal disputes in your debt collection claim.

It doesn’t matter whether it’s money loaned, services rendered, or goods sold and delivered. You want your money. When seeking to enforce your right to get your money, the borrower/client sometimes looks to delay. They may vehemently thwart the debt collection claim by creating issues where none existed. They may also file baseless counterclaims. Continue reading “New York Debt Collection Claim Practices”

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New York Debt Collection and Standing to Sue

Man standing with briefcase. You cannot see his face.New York debt collection and standing to sue, do you have that standing? Can a company that is unauthorized with NY State have standing to sue? Can such a company maintain NY state debt collection litigation to recover monies owed from a non-paying customer?

Do you know the answer to these questions?

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Domesticating a Judgment in New York for Non-NY Cases

A US flag hanging in front of a court house.Domesticating a judgment in New York obtained out of state, to the dismay of some, is not automatic. New York does not allow the automatic registration of a judgment obtained on default from another state. Domesticating a sister-state judgment and converting it to a NY judgment requires filing a lawsuit. It is, therefore, important to understand the defenses available to someone contesting the domestication of the out-of-state judgment in New York. This also may be a good time to mention that out-of-state judgments are not treated the same as federal judgments. Continue reading “Domesticating a Judgment in New York for Non-NY Cases”

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