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Collection Agencies in Puerto Rico

Nexa Collect

No collection agency is allowed to add collection fees onto the debtor’s outstanding balance even when the agency incurred those charges while doing business related to that debtor (10 P.R. 981p (12)). All that being said, in Puerto Rico interest is allowed on money judgments, at a rate of 6%. of the inhabitants unemployed.

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Domestication of Foreign Judgments 101

Jimerson Firm

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. 55.501, Fla. 55.505(2), Fla. 55.509, Fla. 55.509, Fla.

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An In-Depth Guide to Bank Account Garnishment in Texas and How to Avoid It

Debt RR

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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How New York State’s 2024 Plan Will Affect Debt Collection

Collection Industry News

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. The government will look to stop these exploitative tactics and more. In New York, retirement income from Social Security and other sources are exempt from garnishment.

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How New York State’s 2024 Plan Will Affect Debt Collection

FFGN COLLECT NY

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. The government will look to stop these exploitative tactics and more. In New York, retirement income from Social Security and other sources are exempt from garnishment.

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The Automatic Stay and Bankruptcy

Sawin & Shea

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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The Automatic Stay and Bankruptcy

Sawin & Shea

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?