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  • 5 Powerful Lawsuit Defenses for New York Debtors in 2022
    5 Powerful Lawsuit Defenses for New York Debtors in 2022

    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 ...

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  • Two Basic Ways to Obtain a Default Judgment in New York: Clerk & Judge
    Two Basic Ways to Obtain a Default Judgment in New York: Clerk & Judge

    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 ...

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  • 5 Surprising Trends of Covid-19’s Impact on Consumer Credit and Debt Collection
    5 Surprising Trends of Covid-19’s Impact on Consumer Credit and Debt Collection

    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 ...

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  • 21 FAQ's about "Account Stated"| A Legal Guide in Debt Collection Law
    21 FAQ's about "Account Stated"| A Legal Guide in Debt Collection Law

    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 ...

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  • 15 FAQ’s about Statute of Limitations, Debt Collection, and Credit Reporting
    15 FAQ’s about Statute of Limitations, Debt Collection, and Credit Reporting

    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 ...

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  • Prioritize Consumer Debts Based on Risk. A Comprehensive Legal Guide
    Prioritize Consumer Debts Based on Risk. A Comprehensive Legal Guide

    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 ...

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