States have their own rules and regulations when it comes to freezing or restraining bank accounts. Creditors and debtors alike often wonder how debt collection attorneys restrain bank accounts. Below we demystify the process and explain how to freeze a bank account. Continue reading “How to Freeze a Bank Account”
Understanding 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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Read more...Can You Include Interest in Default Judgments During the COVID-19 Shutdown?
New 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.
Continue reading “Can You Include Interest in Default Judgments During the COVID-19 Shutdown?”
Read more...10 Ways to Maximize Debt Collection in 2021
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.
Continue reading “10 Ways to Maximize Debt Collection in 2021”
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