By: Robert J. Nahoum The City of Yonkers has amended its Consumer Protection Code by adding new protections for consumers from whom a debt is being collected from a debt collection agency. The new rules expand the definition of the term “debt collection agency†to specifically include active and passive buyers of delinquent debts.  However, the definition also expressly excludes […]
City of Yonkers Adopts New Debt Collection Requirements
Debt You Thought You Paid Off Through Debt Settlement
By: Robert J. Nahoum THE PROBLEM: I have written before about debt settlement and how it works. To be clear, I am no fan of debt settlement and think that it is generally a bad idea for any consumer. In my opinion, the better mechanism for dealing with debt is usually a chapter 7 bankruptcy. A common problem we see […]
What Does it Mean to be “Sent to Collections”?
By: Robert J. Nahoum I have often heard consumers tell me that they have been “sent to collections†or that a creditor has threatened that if a payment is not made, he or she will be “sent to collectionsâ€?  I think at one time or another we’ve all heard this threat but what exactly does it mean? What happens at […]
Can Social Security Be Garnisheed?
By: Robert J. Nahoum THE PROBLEM You are retired or maybe you got hurt on the job and your only source of income is social security or other government benefits. You fell behind on bills and used the credit cards to make up the difference. You could no longer make the minimum payments and now the creditors have sued you. […]
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 […]
Sued By Pressler and Pressler in NY or NJ?
By: Robert J. Nahoum THE PROBLEM: You have just been served was a summons and complaint, the law-firm Pressler and Pressler, LLP is listed as the attorney for some company you have never heard of who is suing you for an old debt you’re not familiar with. WHO IS PRESSLER AND PRESSLER, LLP?: Pressler and Pressler is most often identified […]