By: Robert J. Nahoum What does it mean if I’ve been served with a debt collection lawsuit in New York? Being “served” with a summons and complaint means a creditor or debt buyer has started a court case against you to collect an alleged debt. The papers will name you as the defendant, identify the plaintiff, state an amount allegedly […]
How to Respond to a Debt Collection Lawsuit in New York: FAQs from a Consumer Protection Lawyer
Jefferson Capital, a Minnesota-Based Debt Collection Firm, Hit With Class Claims in Philly
By: Robert J. Nahoum Introduction Consumers across the country continue to push back against aggressive debt collection tactics, and Jefferson Capital is the latest collector to face serious legal heat in Philadelphia. A new putative class action accuses the Minnesota-based junk debt buyer of violating consumer protection laws through its collection and credit reporting practices, raising important questions for consumers. […]
Sued By Axiom Acquisition Ventures?
Axiom Acquisition Ventures. is a “junk debt buyer”, buying up portfolios of old debt from banks, credit card companies, hospitals, doctors, cell phone companies and car companies for pennies on the dollar. The debt buyers then try to collect the full amount from consumers.
Sued By PCA Acquisitions In New York or New Jersey?
By: Robert J. Nahoum THE PROBLEM: Three scenarios might have led you this article: You have just been notified by your bank that your account has been frozen because there is a debt collection judgment against you by some company called PCA Acquisitions. You’ve received a notice from your County Sheriff or a New York City Marshall that your […]
Sued By Bureaus Investment Group In New York or New Jersey?
By: Robert J. Nahoum THE PROBLEM: Three scenarios might have led you this article: You have just been notified by your bank that your account has been frozen because there is a debt collection judgment against you by some company called Bureaus Investment Group. You’ve received a notice from your County Sheriff or a New York City Marshall that […]
Sued By Velocity Investments LLC In New York or New Jersey?
By: Robert J. Nahoum THE PROBLEM: Three scenarios might have led you this article: You have just been notified by your bank that your account has been frozen because there is a debt collection judgment against you by some company called Velocity Investments LLC. You’ve received a notice from your County Sheriff or a New York City Marshall that […]
Tromberg, Morris & Poulin Agrees to Dismiss Debt Collection Lawsuit Due to Identity Theft
By: Robert J. Nahoum Our client was recently sued in the Supreme Court of the State of New York, Nassau County by the prolific debt collection law-fIrm Tromberg, Morris & Poulin, PLLC on behalf of its client the high-interest rate lender Sofi Lending Corp. Â The lawsuit led to the discovery that our client was the victim of widespread identity theft. […]
A New Pew Report Confirms the Horror of Debt Collection Lawsuits
By: Robert J. Nahoum Any reader of this blog knows I have been ringing the alarm on the threat and inequities of debt collection lawsuits for years. I and my consumer attorney colleagues are on the frontlines of this battle, day in and day out, on behalf of our clients, holding back the title wave of financial disruption debt collection […]
What is a Deficiency Balance?
By: Robert J. Nahoum Secured debts are debts in which collateral (property) has been pledged as security for payment of the money lent. The two most common examples of secured debt are mortgages on home loans and title liens on car loans. In each case, if the consumer defaults on the loan, the bank can take the property and resell […]
The Federal Trade Commission Publishes Statements on the Debt Buying Industry Including a List of Banned Debt Collectors
By: Robert J. Nahoum In a blog post, the Federal Trade Commission published important statements about the debt buying industry and its efforts to self-regulate including a list of 75 debt buyers banned from participating in the debt collection industry.  Below is a reprint of the post prepared by Reilly Dolan, the FTC’s Associate Director, Division of Financial Practices . “Last year the FTC […]