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. 55.501, Fla. 55.505, Fla.

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Judgment Debtor Creditors Garnishment 59

FFGN COLLECT NY

JULY 7, 2022

On December 31, 2021, Governor Hochul signed the Fair Consumer Judgment Interest Act into law. This amended the post-judgment interest rate on all judgments against consumers from 9% to 2%, effective April 30, 2022. An income execution (also known as a garnishment) is another manner of collecting a money judgment.

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Garnishment Financial Institution Judgment Debtor 52

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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Garnishment Creditors Judgment Judgment Enforcement 52

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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Garnishment Banks Student loans Student Loans 40

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. On August 31, 2020, the state legislature enacted the COVID-19 Tenant Relief Act of 2020.

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Financial Institution Garnishment Collections Foreclosure 52

Debt RR

AUGUST 3, 2020

Routine phone calls: Demand letters are a formal process that gives debt collectors leverage if they have to sue for the balance owed, but phone calls are the most common way commercial debt collection agencies will use to try to communicate with debtors. This could lead to bank account garnishment. How Long Can a Debt be Pursued?

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Collection Agencies Collections Agency Debt collector Collections 43

Troutman Sanders

MAY 23, 2023

On May 16, Maryland Governor Wes Moore signed SB106 into law, exempting up to $500 in a deposit account or other accounts of a judgment debtor held in certain financial institutions from execution on the judgment without an election by the debtor to exempt the money. The law will take effect July 1.

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Financial services Banks Debtor Education 52