By: Robert J. Nahoum Identity theft is a serious crime that can have a devastating impact on your financial and personal life. If you have been the victim of identity theft, you may be sued by a creditor for debts that you did not incur. However, there are a number of defenses that you may be able to raise, including […]
How Identity Theft is a Defense to a New York Debt Collection Lawsuit
SoFi Lending Corp Agrees to Dismiss Debt Collection Lawsuit Due to Identity Theft
By: Robert J. Nahoum Our client discovered that he was the victim of widespread identity theft. Among the debts taken out in his name was a loan from the high-interest rate lender Sofi Lending Corp. Sofi sued our client in the Supreme Court of the State of New York, Nassau County. After consulting with our firm, we were retained and […]
What to Do If You Have Been Sued by a Debt Collector in a New York Debt Collection Lawsuit
By: Robert J. Nahoum Being sued by a debt collector can be a stressful and overwhelming experience. If you are facing this situation, it is important to know your rights and what steps you need to take to protect yourself. What to do when you are served with a summons and complaint The first thing you should do if you […]
Abrahamsen Gindin LLC Acquires Embattled Debt Collection Mill Forster & Garbus
By: Robert J. Nahoum Pennsylvania based creditors’ rights law firm Abrahamsen Gindin LLC is dipping its toe into the New York State debt collection market with the announcement of its purchase of embattled debt collection mill Forster & Garbus. The announcement comes on the heels of a settlement between the federal Consumer Financial Protection Bureau and Forster & Garbus in […]
New York State’s New 3-year Statute of Limitations on Consumer Debt
By: Robert J. Nahoum In New York State, there has been a recent change to the statute of limitations for consumer debt collection lawsuits. This change will have a significant impact on both consumers and debt collectors in the state. Prior to the change, the statute of limitations for consumer debt collection lawsuits in New York was up to six […]
New York Debt Collection Lawsuits Are on the Rise
By: Robert J. Nahoum New York has been experiencing an uptick in debt collection lawsuits in recent years. According to data from the New York State Unified Court System, there were approximately 83,000 debt collection cases filed in 2019, up from about 78,000 in 2018. This trend is expected to continue, especially given the economic impact of the COVID-19 pandemic […]
Default in Consumer Debt is on the Rise in 2023
By: Robert J. Nahoum Consumer credit defaults have been on the rise in recent years, and this trend is causing concern among economists and policymakers. When individuals are unable to pay their debts, it not only affects their financial well-being but also has a ripple effect on the larger economy. One of the primary reasons for the rise in consumer […]
Consumer Credit Card Debt is on the Increase in 2023
By: Robert J. Nahoum Consumer credit card debt has been increasing at an alarming rate in recent years. According to the Federal Reserve, consumer credit card debt in the United States has increased by more than $70 billion since 2015, with the total amount of outstanding credit card debt now standing at over $1 trillion. I’ve seen this movie before […]
CFPB Takes Action Against Debt Collection Mill Forster & Garbus to Halt Junk Debt Collection Lawsuits
By: Robert J. Nahoum The Federal Consumer Financial Protection Bureau (CFPB) brought a court proceeding against prolific debt collection mill Forster & Garbus alleging that the law firm illegally sued consumers on behalf of big national banks including Citibank and Discover, among others. In an announcement by the CFPB, it was reported that “If approved by the court, the proposed […]
NY Bans Medical Debt Judgment Liens and Wage Garnishments
By: Robert J. Nahoum On November 23, 2022, New York Gov. Kathy Hochul signed legislation banning and wage garnishments and home judgment liens in medical-debt collection cases. No one should face the threat of losing their home or falling into further debt after seeking medical care, Governor Hochul said. “I’m proud to sign legislation today that will end this harmful […]