What Does With and Without Prejudice Mean in a Debt Collection Lawsuit?

By: Robert J. Nahoum “Stipulations†are written agreements between parties to a lawsuit. You can stipulate to almost anything.  The most common types of stipulations are stipulations of adjournment (postponing a court date or deadline), stipulations of settlement (a settlement agreement resolving the case) and stipulations of discontinuance. When the stipulation is being used to dismiss the case as with […]

What is a Credit Card Charge Off?

By: Robert J. Nahoum THE PROBLEM: You’ve come home to find legal papers taped to your door.  A closer look reveals that the legal papers are a debt collection summons and complaint – you are being sued you for an old debt.  You are terribly confused because you know this debt has been charged off by the bank years before.  […]

How to Tell the Legitimate Debt Collectors from the Frauds

By: Robert J. Nahoum Anyone who has ever dealt with a debt collectors knows how invasive and annoying they can be.  The phone rings incessantly and the letters in the mail never seem to stop.  Sometimes debt collectors cross the line between aggressive debt collection and harassment. When they do cross that line, Federal consumer protection laws step in to […]

City of Yonkers Adopts New Debt Collection Requirements

By: Robert J. Nahoum The City of Yonkers has amended its Consumer Protection Code by adding new protections for consumers from whom a debt is being collected from a debt collection agency. The new rules expand the definition of the term “debt collection agency†to specifically include active and passive buyers of delinquent debts.  However, the definition also expressly excludes […]

NY Attorney General Settles with Debt Buyer Asta Funding, Parent Co. of Palisades Collection

By: Robert J. Nahoum New York Attorney General Eric T. Schneiderman announced that his office reached a settlement with Asta Funding, Inc., one of the nation’s largest debt buyers and the parent company of Palisades Collection, LLC and Palisades Acquisition XVI, LLC.  Under the terms of the settlement, Asta will vacate $1.7 million in judgments and pay a $100,000 in […]