By: Robert J. Nahoum “Junk debt buyer†Portfolio Recovery Associates, LLC (PRA) buys up portfolios of old debt from banks, credit card companies, hospitals, doctors, cell phone companies and car companies for pennies on the dollar and then sues to recover the full balance. According to the New York State Unified Court System, PRA filed 6,899 New York debt collection […]

By: Robert J. Nahoum According to the New York State Unified Court System, “junk debt buyer†LVNV Funding filed 7,622 New York debt collection lawsuits in 2018.  In 2017, Resurgent Capital Services LP, parent company of junk debt buyer LVNV Funding, purchased industry competitor SquareTwo Financial Corp out of Chapter 11 bankruptcy.  SquareTwo is the parent company of prolific junk […]

By: Robert J. Nahoum According to the New York State Unified Court System, junk debt buyer Cavalry Portfolio Services filed 14,859 New York debt collection lawsuits in 2018.  Cavalry Portfolio Services, LLC debt collection cases often are filed under various derivations of its name including “Cavalry SPV I, LLCâ€, “Cavalry SPV II, LLCâ€, and “Cavalry SPV IV, LLCâ€. Cavalry is […]

By: Robert J. Nahoum According to the New York State Unified Court System, “junk debt buyer†CACH, LLC filed only 747 New York debt collection lawsuits in 2018.  CACH’s 2018 New York debt collection case come on the heels of CAHC’s emergence from the Chapter 11 bankruptcy filing of its parent company SquareTwo Financial Corp.  SquareTwo filed for bankruptcy reorganization […]

By: Robert J. Nahoum According to the New York State Unified Court System, Junk debt buyer Midland Funding, LLC filed 17,871 New York debt collection lawsuits in 2018.  Midland Funding, LLC operates under a variety of names including “Midland Funding of Delaware, LLCâ€, “Midland Credit Management, Inc.â€, “Midland Funding Corporationâ€, “Midland Funding NCC-2 Corp.â€, “MRC Receivables Corp.â€.  All of the […]

By: Robert J. Nahoum In New York State, the court system is referred to as the “Unified Court Systemâ€.  However, in reality, the courts are far from unified.  Each county has a “Supreme Courtâ€.  The Supreme Court has the jurisdictional authority to hear any kind of case but generally only hears cases where the amount in dispute is over $25,000.00. […]

By: Robert J. Nahoum Midland Funding, LLC is an notorious “junk debt buyerâ€, buying up portfolios of old debt from banks, credit card companies, hospitals, doctors, cell phone companies and car companies for pennies on the dollar. According to the New York State Unified Court System, Midland Funding, LLC filed only 4,219 New York debt collection lawsuits in 2016 which […]

By: Robert J. Nahoum THE PROBLEM Anyone who has been sued for an old debt will tell you that the process can be terribly confusing.  The court papers used by the debt collectors are filled with legal jargon that makes little if any sense to non-lawyers.  Debt collectors are always – 100% percent of the time – represented by attorneys […]

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 […]