Debt Collection Lawsuits Blogs

What is the New York Consumer Credit Fairness Act? On November 8, 2021, New York State enacted the Consumer Credit Fairness Act (“CCFA”), which implements comprehensive changes to New York’s Civil ...

What exactly is a “default” in law? A “default” is defined as “an omission, or a failure to do that which is anticipated, expected, or required in a given situation." (Legaldictionary.com). Failing to ...

Pre-Pandemic 1) Before the pandemic, debt-collection-industry revenue has trended downward. Debt-collection-industry revenue has declined in recent years, decreasing from an estimated $13.5 billion in ...

1) Account Stated is a “cause of action.” What is a cause of action? A cause of action has two definitions: noun. A condition under which one party would be entitled to sue another. noun. A set of ...

1) What is the statute of limitations? It’s the time period in which a plaintiff has the legal right to sue. It starts from the date of your missed minimum payment. If a collector sues within that ...

Debts of Highest Priority Court Judgments : A judgment is a court order in favor of the creditor. Now as a “judgment creditor,” it can garnish your wages, freeze your bank accounts, and foreclose on ...