By: Robert J. Nahoum If you have been served with an information subpoena in a consumer debt collection lawsuit, you may be wondering what it is and what you need to do to comply. An information subpoena is a court order that requires you to provide information to the judgment creditor. A judgment creditor is someone who sued someone else […]
What is an Information Subpoena in a Consumer Debt Collection Lawsuit?
How a Default Judgment Can Result in a Lien on Your Home
By: Robert J. Nahoum If you have been sued by a debt collector and you lose the case, or if you fail to answer the case the debt collector will obtain a judgment against you. A judgment is a court order that says you owe the debt collector money. In New York State, the judgment results in a lien on […]
Benefits of Hiring an Attorney to Represent You in a New York Debt Collection Lawsuit
By: Robert J. Nahoum If you have been sued by a debt collector in New York, you may be feeling overwhelmed and unsure of what to do. You may be tempted to ignore the lawsuit, but this is a mistake. Ignoring a debt collection lawsuit can have serious consequences, including a default judgment against you. A default judgment is a […]
Settling a Debt Case with American Express: A Success Story
By: Robert Nahoum Entrepreneur Client Sued By American Express We recently received a call from a prospective client who was being sued by American Express for an unpaid credit card. The client is an entrepreneur in an industry with drastic ups and downs. During a recent down time in her business, she fell behind on an account with American Express […]
Inflation, Debt and Credit Card Defaults: What You Need to Know
By: Robert Nahoum Inflation is on the rise, and it’s having a significant impact on consumers’ wallets. As prices for goods and services go up, people have less money to spare, which can lead to credit card defaults, which can lead to debt collection which can lead to debt collection lawsuit. If you’re struggling to make your credit card payments, […]
Are Debt Relief Companies a Scam?
By: Robert Nahoum Debt relief companies promise to help you get out of debt, but they can also be a scam. Here are some of the reasons why debt relief companies are often a scam: They make false promises. Debt relief companies often promise that they can get you out of debt quickly and easily, but there is no guarantee […]
What is an Underwater Car?
By: Robert J. Nahoum An underwater car is a car loan where the owner owes more on the loan than the car is worth. This can happen for a number of reasons, such as: Buying a car little to no down payment. Taking out a long-term car loan. Rapid depreciation of the car. Damage to the car. Why is Being […]
CFPB Issues Eye-Opening Report On The Use of High Cost Credit Cards to Pay for Medical Bills
The federal Consumer Financial Protection Bureau (CFPB) has issued an eye-opening report on the use of high cost credit cards to pay for medical and dental costs not covered by patients insurance. Here is what the CFPB had to say: WASHINGTON, D.C. – Today, the Consumer Financial Protection Bureau (CFPB) published a report on high-cost specialty financial products, such as medical […]
Why a Debt Settlement Plan Will Not Resolve a New York Debt Collection Lawsuit
By: Robert J. Nahoum If you are facing a debt collection lawsuit in New York, you may be wondering if a debt settlement plan is a viable option. Unfortunately, the answer is no. Debt settlement plans are not effective in resolving debt collection lawsuits in New York. Here are some reasons why: Debt settlement plans generally require you to stop […]
Sued by Richard Sokoloff, Esq.?
By: Robert J. Nahoum THE PROBLEM: Three scenarios might have led you this article: You have just been notified by your bank that your account has been frozen because there is a debt collection judgment against you. You call the bank to find out what’s going on and are told to speak some law-firm called Richard Sokoloff, Esq.. You’ve […]