FFGN COLLECT NY

JULY 7, 2022

As such, creditors and their attorneys are in the process of issuing amended income executions to the sheriff or marshal reflecting the decreased rate of interest retroactive to the original date of the judgment. An income execution (also known as a garnishment) is another manner of collecting a money judgment.

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FFGN COLLECT NY

JUNE 3, 2020

With both consumers and small businesses receiving funds from the Paycheck Protection Program (PPP) and CARES Act, questions have come up as to whether these amounts can be frozen or garnished by debt collectors or creditors. Is garnishing PPP or CARES Act funds an option for satisfying outstanding monies owed to judgment creditors?

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Troutman Sanders

JANUARY 29, 2024

She listed 45 unsecured creditors in her schedules of assets and liabilities, including the $7,400 credit card debt at issue. However, testimony later showed that the entity listed as holding the debt, Direct Merchants Bank, was not the actual creditor but rather a registered trademark owned by Metris Companies.

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Nexa Collect

MARCH 12, 2021

Debt collection agencies in PR include Kinum , TSI , CICA, ILCA and Professional recoveries. Spanish and English-speaking debt collectors are required for Puerto Rico debt collection. Need a Collection Agency in PR? Puerto Rico is one of the states that regulate the collection of fees and interest. Contact us.

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FFGN COLLECT NY

JANUARY 10, 2024

On Tuesday, January 9, New York Governor Kathy Hochul delivered the 2024 State of the State address, discussing certain changes that will affect debt collection within the state. Hochul made it clear that the state will assist consumers in New York by adding greater consumer protections—a plan that will affect creditors and debtors alike.

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Collection Industry News

MARCH 17, 2024

On Tuesday, January 9, New York Governor Kathy Hochul delivered the 2024 State of the State address, discussing certain changes that will affect debt collection within the state. Hochul made it clear that the state will assist consumers in New York by adding greater consumer protections—a plan that will affect creditors and debtors alike.

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Collection Industry News

FEBRUARY 25, 2022

In Minnesota, a creditor may issue a garnishment summons to any third party “at any time after entry of a money judgment in [a] civil action.” In Minnesota, a creditor may issue a garnishment summons to any third party “at any time after entry of a money judgment in [a] civil action.” Creditor appealed.

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Credit Corp

JUNE 3, 2021

But it takes a lot to get to that scenario, so if you’re not there yet you still have time to learn how to protect yourself from this type of collections activity. How to Open a Bank Account That No Creditor Can Touch. In truth, it’s fairly rare to have a bank account that no creditor can touch. Custodial accounts.

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Debt RR

AUGUST 3, 2020

This unpaid debt can lead to a serious problem for businesses: garnishment. Bank account garnishment can create serious cash flow blocks for companies of all sizes, and those cash flow problems can compound into other issues, like payroll concerns and late payments on other accounts. Can Debt Collectors Garnish Bank Accounts in Texas?

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Taurus Collect

FEBRUARY 27, 2023

Your bill goes into collections when you fail to pay it within a certain period of time. This usually happens after you’ve received multiple warnings from your creditor. Once your bill is in collections, you’ll be contacted by a collection agency , which will try to collect the outstanding amount.

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Troutman Sanders

DECEMBER 8, 2022

On December 5, an Arizona Superior Court for Maricopa County issued an Order to Show Cause to the state of Arizona and scheduled an expedited evidentiary hearing in a suit challenging the newly passed Arizona Protection from Predatory Debt Collection Act (the Act), also known as Proposition 209.

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FFGN COLLECT NY

NOVEMBER 30, 2022

Last week, the state imposed further limitations on the collection of medical debt by way of new legislation. Earlier this year the state slashed the time to collect consumer claims, including medical bills, by half from six years to three years. This includes judgments that were based on consumer debt.

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Roths Child Law

DECEMBER 17, 2021

If cancer survivors don't take action to protect themselves financially, they could soon face the stress of a debt collection lawsuit and maybe even a lien against their house. The hospital that treated you doesn't care that the stress they cause through their collection activity could hurt your health.

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Taurus Collect

MAY 11, 2023

It’s important to understand how credit card debt collection works so that you can find the best way for your individual situation. Overview of The Credit Card Debt Collection Process Credit card debt collection can be a stressful experience for both the debtor and the creditor.

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Nexa Collect

APRIL 27, 2021

Some debt collection agencies agree to remove the entry from the debtor’s credit report once the bill is paid off, but this is not common. The provision to remove credit report entry was allowed only to fix mistakes and not to be used as a tool for debt collection. Do not rush into credit reporting, use it wisely.

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Jimerson Firm

NOVEMBER 8, 2023

Judgment creditors are often faced with the question of how to collect an out-of-state judgment (also commonly referred to as a foreign judgment) in Florida. Once the foreign judgment is domesticated, the judgment creditor may pursue post-judgment collections efforts in Florida. Notice of registration of foreign judgment.

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FFGN COLLECT NY

JANUARY 6, 2023

The New York legislature passed many new laws in 2022, some of which directly affect New York debt collection. We reported on many of these laws including: Cutting the statute of limitations in half to collect medical and consumer debt from six years to three years. Interested in learning more about debt collection in New York?

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Troutman Sanders

APRIL 27, 2023

Noting a rise in credit card delinquencies, the Consumer Financial Protection Bureau (CFPB or Bureau) released a new blog post analyzing civil judgments, the final recourse for creditors to collect on unsecured debt. The CFPB found that states that protect more wages from garnishment have fewer civil judgments.

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Credit Corp

NOVEMBER 9, 2020

If you or someone you know has dealt with a collection agency, you know how trying it can be. Debt collection agencies have a long history of harassment and illegal practices. Can a collection agency report to a credit bureau without notifying you? It does not come into play for creditors collecting their own debts.

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Troutman Sanders

JANUARY 28, 2021

This bill modifies the limitations of certain debt collection actions enacted in Senate Bill 20-211 , most notably extending the moratorium on extraordinary collection actions from February 1, 2021 to June 1, 2021. This notice must be written and provided at least 10, but not more than 60 days prior to the commencement of an action.

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Sawin & Shea

NOVEMBER 23, 2022

Both being sued by a creditor and bankruptcy can feel like scary situations, but rest assured, filing for bankruptcy can help. Can a Creditor File a Lawsuit Against Me? Creditors can, and most likely will, take you to court if you owe a debt such as a credit card or medical bills and cannot pay.

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Credit Corp

MAY 30, 2023

That means judgment creditors can seek debt payment from more than your wages and bank accounts. Creditors must follow the law when applying a judgment to take, or seize, your property. Your creditor can take or leverage these possessions in the following ways: Wage attachments. This is known as wage garnishment.

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Direct Recovery

APRIL 18, 2023

But that debt can quickly become an anchor weighing down the entire company if growth sputters, and the resulting collections can be even more problematic than the debt in the first place. Of course, there is also the fact that you’re probably more concerned with running your own business than collecting from a failed one.

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Taurus Collect

JANUARY 23, 2023

Tax season can be incredibly stressful for business owners, with many wondering how the financial decisions they make today could affect their future debt collection. In this article, we’ll explore what you need to know about taxes and debt collection to ensure that your organisation remains solvent as tax season approaches.

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Sawin & Shea

DECEMBER 21, 2023

This stay halts most collection activities and legal actions against the filer. At the moment of filing, creditors receive legal notice to halt collection activities. The duration of the automatic stay depends on the type of bankruptcy and whether collection is against the debtor or the debtor’s property.

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Credit Corp

JUNE 3, 2020

The company, creditor or collection agency has legal ways to pursue payment. The court enters a judgment against you if your creditor wins their claim or you fail to show up to court. The judgment creditor can then use that court judgment to try to collect money from you. This is known as wage garnishment.

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Sawin & Shea

FEBRUARY 16, 2022

An emergency bankruptcy is a bankruptcy filing method that expedites the filing process to stop creditors and bill collectors from seeking debts from borrowers. An automatic stay is an injunction prohibiting creditors from collecting debts. It’s not always clear when it’s the right time to file for emergency bankruptcy.

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Credit Corp

AUGUST 31, 2021

Can a debt collector collect after 10 years, for example? Can a debt collector collect after 10 years? Time-barred debts and your credit report What to do if you are contacted about an old debt COVID-19 and debt collections. Can a Debt Collector Collect After 10 Years? Find out in the informational guide below.

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Burr Forman

DECEMBER 4, 2020

Financial institutions, servicers, lenders, and debt collectors must stay up-to-date on evolving federal and state laws stemming from the COVID-19 pandemic, as such laws impact all facets of consumer loan servicing and debt collection. In March of 2020, Burr published an article discussing the global pandemic’s impact on collection practices.

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Debt RR

AUGUST 3, 2020

Sometimes, that debt gets out of hand and businesses find themselves on the receiving end of calls from commercial debt collection agencies. Here’s everything businesses need to know about commercial debt collection agencies and how to manage communication without disrupting day-to-day operations. How Long Can a Debt be Pursued?

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Taurus Collect

JANUARY 24, 2023

But while it can be exciting to think about that refund cheque hitting your bank account soon, there’s another equally pressing reason why you should pay attention this tax season – debt collection! One of the most common strategies employed by debt collection companies is sending frequent letters or calls reminding you of unpaid debts.

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Troutman Sanders

APRIL 2, 2021

Last week, the Maryland Senate and the House of Representatives each voted unanimously to approve bills that would limit a hospital’s means of collecting past due medical debt. The bills as originally introduced would have prohibited hospitals from delegating to collections or commencing lawsuits for debts less than $1,000.00

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Consumer Financial Services Law

DECEMBER 21, 2016

Courts have long debated the extent to which a debt collection attorney’s representations to opposing counsel or the court during the course of litigation may violate the FDCPA and the results from different circuits have varied greatly. The case arose from the law firm’s post judgment efforts to garnish wages. See, e.g., Hemmingsen v.

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Taurus Collect

AUGUST 15, 2023

Navigating the intricate world of debt collection can be a challenging task for businesses of all sizes. That’s why outsourcing debt collection services , particularly in key areas such as Manchester, can be the game-changer your business needs. Failure to adhere to these can lead to lawsuits and damage business reputation.

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Troutman Sanders

AUGUST 29, 2023

District Court for the Western District of New York granted the plaintiff’s motion for class certification for alleged violations of the Fair Debt Collections Practices Act (FDCPA) relating to an allegedly improper debt assignment notification. The plaintiff never repaid the garnished money. In McCrobie v. The defendants objected.

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Sawin & Shea

NOVEMBER 24, 2021

Many people worry that bankruptcy will simply delay the inevitable, such as a lawsuit, wage garnishment, or a foreclosure, and that their creditors will still come after them. An automatic stay is a fundamental part of bankruptcy that protects debtors from creditor actions. What Does an Automatic Stay Do?

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Sawin & Shea

NOVEMBER 24, 2021

Many people worry that bankruptcy will simply delay the inevitable, such as a lawsuit, wage garnishment, or a foreclosure, and that their creditors will still come after them. An automatic stay is a fundamental part of bankruptcy that protects debtors from creditor actions. What Does an Automatic Stay Do?

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