Understanding New York Debt Collection Laws

Statue of woman holding scales to represent new york debt collection laws.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 that most news articles about debt collection involve rogue collectors or firms that either harassed consumers or failed to give the required notice of a debt. Other complaints are linked to the lack of or failure to comply with licensing, the theft of monies collected for the benefit of creditors by the collection vendor, and more.

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Can You Include Interest in Default Judgments During the COVID-19 Shutdown?

gold gavel to represent default judgment interestNew York on PAUSE during the COVID-19 pandemic initially meant that other than emergency applications, no New York debt collection litigation cases could be filed. Creditors could not use the courts to collect monies owed to them.

When the courts re-opened, only cases filed pre-shutdown (before March 22, 2020) could proceed. New filings were permitted beginning May 2020, allowing creditors the ability to help get themselves paid. Unfortunately, because of extensions ordered by the state, default judgments on cases filed after March 22, 2020, could not be submitted until early November 2020, during which time many businesses closed, resulting in debtors without means to repay and creditors without recovery.

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10 Ways to Maximize Debt Collection in 2021

Photo of a finger pressing a button that indicates money to represent maximizing debt collection.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 bring an emergency application (the only type of debt collection effort that was allowed during the shutdown).

Since then, the courts have reopened. Many, not all, court clerks have returned, offering the opportunity to process debt collection claims.

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