By: Robert J. Nahoum What Is “Substantiation” of Debt in New York? If you live in New York and have been sued or threatened with a lawsuit over a consumer debt, you’ve probably seen one of three names on the summons: an original creditor, a collection agency, or a debt buyer. Knowing who you’re dealing with can make a big difference in how […]
Understanding the Differences: Collection Agency vs. Original Creditor vs. Debt Buyer in New York
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 […]
What is “Chain of Title” in a Debt Buyer Debt Collection Case?
By: Robert J. Nahoum Consumers sued in debt collection cases often find themselves up against companies they have never heard of. Names like Midland Funding, LVNV Funding, CACH LLC, New Century Financial Services, Portfolio Recovery Associates, Unifund and Calvary Portfolio Services. The reason you’ve never heard of these companies is because, while you’ve never done business with them, they’re doing […]
Harassed by Collection Agency RJM Acquisition, LLC in New York or New Jersey?
By: Robert J. Nahoum RJM Acquisition, LLC is an infamous collection agency and 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, plus interest, penalties, late fees, overdraft fees, attorney’s fees and […]
Harassed by Collection Agency Unifund CCR, LLC in New York or New Jersey?
By: Robert J. Nahoum Unifund CCR, LLC is an infamous collection agency and 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, plus interest, penalties, late fees, overdraft fees, attorney’s fees […]
Harassed by Collection Agency Palisades Collection, LLC in New York or New Jersey?
By: Robert J. Nahoum Palisades Collection, LLC is an infamous collection agency and 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, plus interest, penalties, late fees, overdraft fees, attorney’s fees and […]
Harassed by Collection Agency New Century Financial Services, Inc. in New York or New Jersey?
By: Robert J. Nahoum New Century Financial Services, Inc. is an infamous collection agency and 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, plus interest, penalties, late fees, overdraft fees, attorney’s […]
Harassed by Collection Agency Midland Funding, LLC in New York or New Jersey?
By: Robert J. Nahoum Midland Funding, LLC is an infamous collection agency and 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, plus interest, penalties, late fees, overdraft fees, attorney’s fees and […]
Harassed by Collection Agency LVNV Funding, LLC in New York or New Jersey?
By: Robert J. Nahoum LVNV Funding, LLC is an infamous collection agency and 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, plus interest, penalties, late fees, overdraft fees, attorney’s fees and […]