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 […]
What is “Summary Judgment” in a Debt Collection Lawsuit?
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 […]
What is A Judgment Lien on Real Property?
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 real property including your home. The lien on real property is a passive method for enforcing the judgment meaning that the only […]
What is a Stipulation in a New York Debt Collection Case?
By: Robert J. Nahoum The Problem: You have been sued by a debt collector and have come to terms on a settlement but the debt collector wants you to sign something called a “stipulationâ€. What is a stipulation in a New York Debt Collection Case? The Rules: Under most circumstances, the procedural rules in a New York debt collection lawsuit […]
NY Dept. of Financial Services Issues Guidance on New Debt Collection Regulations
By: Robert J. Nahoum As part of the roll out of the new New York debt collection laws, the New York Department of Financial Services has issued guidance through a “Frequently Asked Questions†page on its website. The FAQs clarifies the extent of the regulations and debt collectors’ responsibilities. The FAQ states that: “Does 23 NYCRR 1 apply to the […]
Will I Have to Appear In Court in a Debt Collection Lawsuit?
By: Robert J. Nahoum The Problem: You’ve been served was a summons and complaint or discovered that you have a default judgment entered against you. It’s a debt collector suing you on an old credit card or medical debt.  You’ve done your homework on the internet and realized that you can’t simply ignore the case as that will only make […]
Superior Court of NJ Special Civil Part, The NJ Debt Collection Court
By: Robert J. Nahoum Each county in New Jersey has a Superior Court. Within that Superior Court there are three different divisions that hear different kinds of cases. The three divisions are: (1) The Law Division – Civil Part which has no monetary limit on the value of cases and usually hears cased involving automobile accidents, medical malpractice and commercial […]
In What Courts Are New York Debt Collection Cases Filed?
By: Robert J. Nahoum The New York court system is called the “New York State Unified Court Systemâ€. However, the courts don’t always seem to be “unifiedâ€. There are a variety of different courts in different parts of the state that hear different kinds of cases. Each county has a “Supreme Courtâ€. The Supreme Court has the jurisdictional authority to […]
Sued By Razor Capital, LLC In New York or New Jersey?
By: Robert J. Nahoum THE PROBLEM: You have just been served was a summons and complaint. Razor Capital, LLC is suing you for an old debt. WHO IS RAZOR CAPITAL, LLC?: Razor Capital, LLC is an infamous “debt buyerâ€, buying up portfolios of old debt from banks, credit card companies, hospitals, doctors, cell phone companies and car companies for pennies […]
Sued By Cypress Financial Recoveries, LLC In New York or New Jersey?
By: Robert J. Nahoum THE PROBLEM: You have just been served was a summons and complaint. Cypress Financial Recoveries, LLC is suing you for an old debt. WHO IS CYPRESS FINANCIAL RECOVERIES, LLC?: Cypress Financial Recoveries, LLC is an infamous “debt buyerâ€, buying up portfolios of old debt from banks, credit card companies, hospitals, doctors, cell phone companies and car […]