Collections Law

SEPTEMBER 29, 2021

If you are trying to collect on a debt, you may feel relieved when you finally have that judgment in hand. After all, obtaining a judgment from the court is the hard part, right? Unfortunately, collecting on that judgment could prove to be a challenge. Not necessarily. What is a Rule 69 deposition?

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Collection Industry News

MARCH 7, 2022

SB 1200 would limit annual interest to 3 percent, down from 10 percent and restrict the renewal of legal judgments on unpaid debt after 10 years. For years, state law has required courts to charge exorbitant interest rates on legal judgments, exacerbating the debt owed by California families,” Skinner said in a statement. “SB

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Public Citizen

OCTOBER 29, 2020

The National Consumer Law Center issued a report on the impact of debt-collection during the pandemic and state laws that help, or harm, struggling families. Puerto Rico, and the Virgin Islands that protect wages, assets in a bank account, and property from seizure by creditors. “By

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Collections Law

AUGUST 17, 2021

The entry of a judgment does not translate into payment in most cases. Winning is not the same as collecting. During the initial judgment case, the Massachusetts courts do not allow the creditor business to inquire into the debtor’s assets. These actions allow an ethical and aggressive collections attorney like Alan M.

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CICM

JULY 14, 2023

What assets do they hold? The main options available are: Instruct a debt collection agency that has the time, expertise and resources to recover your debt. If you do secure a judgment at court, you have access to enforcement action to recover the debt. which secures repayment of the debt when the asset is sold.

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Nexa Collect

NOVEMBER 1, 2021

Individuals can be legally forced to pay their debts with their cryptocurrency, but the creditor must have a judgment which states that the debtor is obligated to pay off the debt, including any cryptocurrency they own. Internal Revenue Service (IRS) claims digital assets like properties. Laws differ from state to state.

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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. Massachusetts was among the few states that had not adopted the Uniform Enforcement of Foreign Judgment Act.

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Collection Industry News

MAY 18, 2021

The law would cover the federal stimulus approved in 2020 and earlier this year, barring debt collectors from taking that money in summary judgments, debt collection and other forms of asset seizure. The post New Law Blocks Debt Collectors From Stimulus Funds appeared first on Collection Industry News.

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Collection Industry News

JUNE 14, 2021

Jason Nocera anticipated law enforcement authorities might raid his debt collecting business. Consumer Financial Protection Bureau and the New York State Attorney General’s Office over his unlawful debt collection practices. MacKinnon and his companies were also permanently banned from debt collection. A judgment of $22.5

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Troutman Sanders

JUNE 14, 2023

On June 8, the Commodities Futures Trading Commission (CFTC) obtained a default judgment against a decentralized autonomous organization (DAO) Ooki Dao in the U.S. On June 8, the CFPB acted against a medical debt collector for numerous debt collection and credit reporting violations. For more information, click here. According to U.S.

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Debt Guru

APRIL 12, 2020

The resulting court judgment remains public for seven years, and a successful lawsuit can lead to garnishment of your wages or even seizure of your assets. Some payday lenders are quick to report default or sell loans to a collections agency. How Can Protect Yourself If You Need a Payday Loan?

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Debt RR

AUGUST 3, 2020

Bank account garnishment is a collection procedure that is authorized by a court. Student loans: The most recent data shows that over 10% of student loans are more than 90 days late, which puts them at risk of being turned over to collection agencies. What is Bank Account Garnishment and What Can Cause It?

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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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Collections Law

MARCH 21, 2024

Navigating the complexities of debt collection is an endeavor, even for larger Massachusetts businesses. Cohen & Associates LLC, our commercial litigation attorneys have more than 50 years of collective experience in commercial debt collection. One such aggressive collection tool is a keeper attachment.

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Collections Law

JUNE 14, 2023

In the United States, each state’s courts are bound to respect the judgments of other states’ courts, with limited exceptions. If you have obtained a judgment in your state only to learn the debtor no longer has any assets there, you can look to assets they have in other states, such as Massachusetts.

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Collections Law

MAY 23, 2023

As soon as your ordinary, reasonable debt collection efforts have failed. That action needs to be more than just hiring a collections agency. They just don’t have the tools to actually collect from someone who is refusing to pay. They just don’t have the tools to actually collect from someone who is refusing to pay.

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Collections Law

MAY 4, 2023

We handle business and commercial collections for companies of all sizes and in any industry. Unlike attorney who dabble in commercial collections, we know what to do when a deadbeat tries to avoid payment by moving their assets into an irrevocable trust. Cohen LLC, we have over 50 years’ experience getting our clients paid.

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Collections Law

FEBRUARY 28, 2023

To turn that judgment into money, you need the experienced collection attorneys at The Law Offices of Alan M. You can’t get any further with a collection agency. Ordinary attorneys can’t get much further than getting you the judgment. Rule 65 injunctions prevent debtors from hiding assets. Cohen LLC.

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Collections Law

JANUARY 13, 2023

If your debtor hasn’t declared bankruptcy, there are several ways we can use to try to get you paid, even if you don’t have collateral or a court judgment yet. Getting a judgment without scaring the assets away We can file suit for the money they owe. Some assets are then either further secured through a writ of execution.

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