Jimerson Firm

FEBRUARY 10, 2022

Generally, if debtors owe a debt to a lender, and the lender cancels or forgives that debt for less than its full amount, the debtor is treated for income tax purposes as having income and may have to pay tax on this income by virtue of a 1099-C filing from the lender. Charging Off” Uncollectable Debt. 1099-C Issuance.

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Debt Recoveries

JUNE 1, 2021

Unless you are actually a debt collection expert like Debt Recoveries Australia , there is a good chance that you have quite a few higher priorities than managing your company’s accounts receivable. You might even delegate that task out to an assistant or employee without much thought to collect debts fast. CC the CEO or CFO.

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Collections Law

APRIL 1, 2020

Collecting debts from debtors having assets in Massachusetts while you are in another state or a different country used to be difficult, even if you had a judgment against them. Our Experienced Collections Attorneys Knows How to Enforce Foreign Judgments in Massachusetts. Not Just Domestication — Enforcement, Too.

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Sawin & Shea

SEPTEMBER 27, 2023

If you are a victim of debt collector harassment, it’s important to know the debt collection laws, and consider your options for debt relief. Chapter 7 is also known as liquidation bankruptcy because in exchange for receiving a discharge of most kinds of debts, the debtor has to give up non-exempt assets.

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Debt Free Colorado

FEBRUARY 21, 2022

When collecting a debt from you, collection agencies must adhere to federal and state rules. Fortunately, the federal Fair Debt Collection Practices Act (FDCPA) protects all states. You have rights to help you gain control over your debt collection interactions. Call or text you to collect a debt between 8 a.m.

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Collection Industry News

DECEMBER 21, 2020

Last week, the CFPB issued a Consent Order against a New Jersey based debt-collection agency (Agency) over allegations that the Agency regularly violated the FDCPA and the CFPA in the course of their collection activity.

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Stevens Lloyd

JULY 17, 2018

However, in case, your all efforts to collect the debt get unsuccessful, you can take the advantage of debt collection services. Whether it’s a new client or an old one, you have the right and obligation to collect the amount you are owed. Getting angry and using abusive language against them is not the right solution.

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Direct Recovery

JUNE 24, 2020

With an unprecedented number of Americans filing for unemployment, debt collection has been harder than ever for collectors who are attempting to work from home, and business isn’t going to get any better on account of those $1,200 stimulus checks, especially here in California. Money Collected Must Be Returned.

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Jimerson Firm

JANUARY 12, 2024

In collecting consumer debts, no person shall: (9) Claim, attempt, or threaten to enforce a debt when such person knows that the debt is not legitimate, or assert the existence of some other legal right when such person knows that the right does not exist. Section 559.72(9) 9) , provides as follows: 559.72 Prohibited

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The Kaplan Group

APRIL 12, 2021

All too often, commercial debt collection becomes a negotiation. This could be more money, faster payments, avoiding court, or if necessary, the final outcome in court and the subsequent judgment collection process. One of the most common issues we see is no provision for the imposition of collection fees on the customer.

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Jimerson Firm

DECEMBER 14, 2021

Two important statutes for all businesses to be aware of are the Florida Consumer Collection Practices Act (FCCPA) and the Fair Debt Collection Practices Act (FDCPA). Fair Debt Collection Practices Act. A person attempting to collect his or her “own” debt, is not a debt collector under the FDCPA. See Stanley v.

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The McHughes Law Firm

JUNE 22, 2016

In today’s volatile marketplace, the existence of a personal guarantee may provide the only viable basis for collecting outstanding receivables from a corporate obligor experiencing financial difficulty. A provision for the recovery of collection expenses and attorney’s fees should be inserted.

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Sawin & Shea

AUGUST 24, 2020

Bankruptcy can also stop or delay a home or mortgage foreclosure, stop collection actions, stop garnishments and lawsuits. Chapter 13 Bankruptcy: Chapter 13 bankruptcy is a reorganization of debts for debtors with regular income. Debt collection agencies can be thoroughly unpleasant. What does each one mean?

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FFGN COLLECT NY

APRIL 6, 2021

While the underlying agreement or contract may seem straightforward, you need to do a thorough evaluation to make sure you aren’t waiving your legal rights by signing the contract. The change in law prohibited the use of confessions of judgment for all debtors residing outside of New York State. Let us help.

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Consumer Financial Services Law

NOVEMBER 12, 2019

The order stated that “a creditor may have the right to enforce a valid lien such as a mortgage or security interest. Also, a debtor may voluntarily pay any debt that has been discharged.” Instead, the statement repeatedly stated that it was for informational purposes only and was not an attempt to collect a debt.

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