Does the FDCPA Cover Personal Guarantees of Business Debt?

By: Robert J. Nahoum Federal debt collection laws, known as the Fair Debt Collection Practices Act (FDCPA for short), regulates the conduct of third party debt collectors.  The FDCPA generally prohibits debt collectors from using abusive debt collection tactics that are false, misleading and harassing. If a debt collector violates the FDCPA, you can sue for statutory damages up to […]

What is a New York Transcript of Judgment?

By: Robert J. Nahoum If you’ve been sued and a debt collector and a judgment has been against you, that judgment allows the debt collector to garnishee wages , freeze your bank accounts and levy on your non-exempt property including your home or other real property. In New York, the lien on real property is a passive method for enforcing […]

Your Court Settlement is in the Reach of Creditors

By: Robert J. Nahoum If you are broke, out of work, on social security, disability or unemployment and you have no non-exempt assets then you are what is called “judgment proof”.  That means that there simply is nothing a debt collector can take from you – you can’t get blood from a stone.  For this reason, many judgment proof consumers […]

What is Mediation in a Debt Collection Lawsuit?

By: Robert J. Nahoum THE PROBLEM You have been sued by a debt collector and timely answered the lawsuit.  You’ve received notice that you need to appear in court for mediation? What is mediation, what can you do to prepare and what should you expect? THE RULES In an effort to move debt collection cases through the extraordinarily overburdened court […]

Midland Funding and Portfolio Recovery Settle Wrongful Debt Collection Claims With the CFPB

By: Robert J. Nahoum THE PROBLEM: On September 9, 2015, government watchdog the Consumer Financial Protection Bureau announced that it had reached a settlement with infamous debt buyers Midland Funding and Portfolio Recovery over illegal debt collection practices. According to a statement released by the CFPB: “Today the Consumer Financial Protection Bureau (CFPB) took action against the nation’s two largest […]