FFGN COLLECT NY

MAY 18, 2022

Can you use a judgment to restrain a bank account or other assets maintained by a judgment debtor outside of New York state? When it comes to out-of-state debtors, restraining a bank account is possible, but depends on certain factors. A New York creditor files suit in New York against a California debtor.

Debtor 52

Debtor Banks Judgment Creditors 52

Nexa Collect

APRIL 27, 2021

Simple Answer: Once the bad debt entry hits the credit report, the fear in the debtor’s mind is gone. You just used the most effective tool in debt recovery before giving enough time to the debtor to settle your unpaid bills. The debtor thinks “ What worse can happen? The fear in the debtor’s mind is gone.

Collection Agencies 130

Collection Agencies Collections Agency Debtor Debt Recovery 130

FFGN COLLECT NY

MARCH 18, 2025

Looking to execute on a judgment but need more information about the judgment debtors assets to collect? If so, you might consider a debtors exam. A debtors exam provides an opportunity for the creditor to question the judgment debtor and discover information related to the defendants assets.

Debtor 52

Debtor Judgment Collections Banks 52

Collections Law

MARCH 27, 2023

When you have a commercial debtor who won’t pay but stays in business, they’re using your money to stay afloat. We called this “creditor financing.” Your debtor claims they cannot pay (“CANOPS”), but they’re still in operation. We may also seek a pre-judgment attachment on certain assets, without notice to the debtor.

Debtor 52

Debtor Creditors Judgment Collection Agencies 52

Burr Forman

AUGUST 19, 2021

Paul Durdaller – Atlanta, Litigation and Banking and Finance. Paul Durdaller – Litigation, Banking and Finance. Erich Durlacher – Bankruptcy and Creditor Debtor Rights / Insolvency and Reorganization Law. Ed Snow – Banking and Finance Law, Commercial Finance Law, Securitization and Structured Finance Law.

Lawyers 105

Lawyers Construction Acquisition Bankruptcy 105

Fraser

JUNE 25, 2020

Creditors of a bankrupt company must be aware of the various deadlines and procedures that govern the chapter 11 process in order to protect and enforce their rights. For creditors to maximize their recoveries, they must stay informed and take action during a bankruptcy proceeding. The Petition Date. Proof-of-Claim Bar Date.

Creditors 72

Creditors Bankruptcy Unsecured Creditor Debtor 72

Nexa Collect

MARCH 12, 2021

The CFPB has the authority to stretch its long arm as far as the most remote corner of the United States and its territories in order to supervise and audit local banks, credit unions, payday lenders, debt collection agencies, and more. The first thing to keep in mind is that the FDCPA applies there just like anywhere else. 981p (12)).

Collection Agencies 130

Collection Agencies Collections Agency Collections Garnishment 130

FFGN COLLECT NY

OCTOBER 20, 2021

When considering what funds are exempt from judgment enforcement and the reach of judgment creditors, New York and the federal government draw a line between enforcing judgments against consumers and enforcing judgments against commercial entities. Any objections to the debtor’s exemption must be made within 7 days.

Judgment Enforcement 98

Judgment Enforcement Judgment Debtor Creditors 98

Jimerson Firm

APRIL 9, 2024

When a court enters a civil money judgment, it creates a judgment debtor and a judgment creditor. If the judgment debtor fails or refuses to pay the amount of the judgment, the judgment creditor may elect to use statutory collection methods to partially or fully satisfy the judgment. on one’s vehicle.

Judgment 105

Judgment Debtor Creditors Collections 105

FFGN COLLECT NY

MARCH 25, 2024

They include: A multi-faceted approach: A judgment creditor is not limited to taking it one step at a time. The creditor can execute in a variety of ways at the same time. Enforcing Judgments against bank accounts An easy way to enforce a judgment in New York is to restrain bank accounts.

Lawyers 98

Lawyers Judgment Collections Judgment Enforcement 98

Sawin & Shea

AUGUST 17, 2022

In a Chapter 13 bankruptcy , the debtor agrees to a payment plan instead of having their property taken to pay creditors. In contrast, in a Chapter 7 bankruptcy , the bankruptcy trustee will often use property to help pay off creditors before the remaining debt gets discharged. Transferring or disposing assets before bankruptcy.

Bankruptcy 105

Bankruptcy Chapter 13 bankruptcy Chapter 7 bankruptcy Debtor 105

Jimerson Firm

MAY 30, 2024

The Bankruptcy Code provides debtors with a fresh start or an opportunity to reorganize their debts. In doing so, the Code requires all debtors to provide, under oath, a full disclosure of their assets and liabilities. Such property includes causes of action belonging to the debtor at the commencement of the bankruptcy case.

Debtor 59

Debtor Bankruptcy Chapter 7 bankruptcy Creditors 59

PBWT

OCTOBER 19, 2021

Gargotta rejected a debtor’s attempt to use “CARES Act” funds, which it did not actually qualify for, to pay creditors in its chapter 11 case. BR Healthcare Solutions (the “Debtor”) operated a nursing home under the name Karnes City Health & Rehabilitation Center near San Antonio.

Creditors 65

Creditors Debtor Bankruptcy Healthcare 65

Jimerson Firm

NOVEMBER 27, 2023

Any secured creditor, large or small, may encounter a situation in which it is preferable to retain or recover the collateral in a transaction without having to sell the collateral itself. The purpose of this article is to make creditors aware of what is and is not possible to do under Florida law. 679.609(1).

Secured Creditor 59

Secured Creditor Collateral Creditors Debtor 59

Collections Law

JULY 25, 2024

With a thorough understanding of the idiosyncrasies of Massachusetts collections laws, they can lend their extensive knowledge to your company’s outstanding debts with post-judgment collection strategies, like bank attachments. What is a bank attachment? A bank attachment is a powerful post-judgment collection tool.

Judgment 52

Judgment Banks Garnishment Commercial Collection 52

Jimerson Firm

FEBRUARY 10, 2022

The first consideration that lenders (banks and credit unions alike) often face is when, and if, to conclude that the account owner does not intend to, or is not able to, clear the negative balance or loan deficiency. Charging Off” Uncollectable Debt. 1.6050P-1(b)(2)(i).

Lender 98

Lender Credit Unions Credit Unions Collections 98

Nexa Collect

JANUARY 14, 2023

Extra costs to comply with these laws would be passed on to businesses /creditors, who are already unwilling to pay the current costs associated with hiring a professional debt collector. This means all collection agencies must secure consumer data nearly the same way as banks. Read: Impact of the GLBA on Collection Agencies.

Debt Recovery 130

Debt Recovery Government Collection Agencies Collections Agency 130

Fraser

JULY 21, 2020

What’s worse—and which often comes as a big surprise—is when a business gets sued by the debtor or bankruptcy trustee seeking to recover payments made by the debtor before the bankruptcy. In reality, all kinds of creditors, including those who have valid defenses to preference claims, typically get sued regardless of their defenses.

Creditors 56

Creditors Bankruptcy Debtor Construction 56

Collections Law

DECEMBER 1, 2022

Aggressive and Relentless Collection Tactics Legal tactics that can result in payment can include: Bank attachments. A trustee attachment is a legal tactic allowing a creditor to freeze monies in non-exempt bank accounts. As the name provides, this tactic gives the creditor a security interest in the debtor’s real estate.

Collections 98

Collections Commercial Collection Creditors Debtor 98

Jimerson Firm

NOVEMBER 23, 2020

Self-Help Repossession: In Florida, a secured creditor may use self-help repossession to take possession of collateral, provided its efforts do not breach the peace. Florida case law provides that a breach of the peace occurs if the secured creditor enters the debtor’s land to repossess the collateral, without the debtor’s consent.

Collateral 98

Collateral Loans Secured Creditor Lender 98

Collection Industry News

OCTOBER 17, 2022

Under section 363 of the Bankruptcy Code, a debtor-in-possession in a chapter 11 bankruptcy proceeding can seek court approval to sell some or all of the debtor’s assets, free and clear of all claims and encumbrances. This process is beneficial for debtors in that it allows for a more streamlined method of liquidating its assets.

Debtor 40

Debtor Bankruptcy Creditors Government 40

FFGN COLLECT NY

MAY 8, 2024

In April, following an investigation by Attorney General Leticia James’ office, Pathward (formerly known as MetaBank) was required to refund money to account holders after unlawfully sending frozen deposits to creditors. In addition to refunding the monies, the bank also had to pay penalties for the unlawful freezing of the bank accounts.

Banks 52

Banks Debt collector Judgment Creditors 52

Troutman Sanders

JANUARY 29, 2024

As background, in 2002, the debtor and her then-spouse jointly filed a “no asset” Chapter 7 bankruptcy petition. She listed 45 unsecured creditors in her schedules of assets and liabilities, including the $7,400 credit card debt at issue. The court found this argument contrary to the plain text of the Bankruptcy Code.

Bankruptcy 98

Bankruptcy Chapter 7 bankruptcy Credit Card Debt Garnishment 98

UK debt collections

JULY 18, 2022

A CCJ ratifies a debt and makes it official that the debtor owes money and it must be repaid. When a CCJ is not repaid despite a request by the court to do so, there are various options available to the claimant and creditor. If the debtor fails to make payment then CCJ enforcement action can be taken. Enforcing a CCJ options.

Debtor 81

Debtor Creditors Banks Judgment 81

FFGN COLLECT NY

FEBRUARY 20, 2025

Debt collection attorneys can levy on bank accounts and brokerage accounts, garnish wages, restrain monies, and much more. Even if you are not ready to force a sale of the judgment debtors property, you can lien the property and wait. You can renew the lien as long as you do so before it expires.

Judgment 52

Judgment Judgment Enforcement Garnishment Debtor 52

Jimerson Firm

DECEMBER 29, 2023

When a debtor files for bankruptcy, a creditor may be able to seek dismissal of the bankruptcy if the petition was filed in bad faith. This article will provide an overview of the options available to a creditor if a debtor with primarily consumer debts files for Chapter 7 bankruptcy. 11 U.S.C. §

Chapter 7 bankruptcy 59

Chapter 7 bankruptcy Debtor Bankruptcy Creditors 59

Collections Law

JULY 25, 2023

We seek to freeze a debtor’s assets prior to obtaining a judgment so that there is an identifiable resource from which to get you paid. Once you get that judgment, we seek leave of the court to direct the person or entity which is holding the debtor’s seized assets to pay you. What if our debtor doesn’t own a cash business?

Debtor 52

Debtor Judgment Creditors Collections 52

Credit Management Company

SEPTEMBER 30, 2022

When individuals or businesses fall behind in payments, the situation often results in frustration and a breakdown in communication for both the debtor and the creditor. At CMC, our decades of experience have led us to develop a proven process of building professional relationships with debtors on behalf of our clients.

Debtor 52

Debtor Creditors Fair Debt Collection Collections 52

FFGN COLLECT NY

NOVEMBER 4, 2021

New York Civil Practice and Rules Article 52 grants the judgment creditor many liberties and privileges when it comes to enforcing a judgment. Assume you are a creditor and have a civil judgment entered in one of the counties of the Civil Court of the City of New York for $10,000. Executing on a Debtor’s Bank Account in New Jersey.

Judgment Enforcement 98

Judgment Enforcement Judgment Collections Financial Institution 98

Collections Law

JANUARY 13, 2023

It is extremely frustrating to discover that your debtor owes other people a lot of money. The more debt they have out there, the smaller the slice each creditor can get, right? 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.

Debtor 52

Debtor Judgment Collateral Garnishment 52

The Kaplan Group

APRIL 24, 2025

For older debt or legal cases, actual creditor recovery drops to 10% or less. Creditors increasingly rely on court action for high-balance debts, but delays and debtor insolvency remain obstacles. Creditors, lenders, and businesses alike must adapt to a more cautious, cash-constrained era.

Bankruptcy 52

Bankruptcy Lender Loans Creditors 52

FFGN COLLECT NY

APRIL 21, 2022

Absent a sense of urgency, most creditors want to start with a demand to see if the debtor will respond. A written demand can be sent via email (depending on whether the debtor is commercial or consumer), by fax, mail, or hand delivery. Creditors should avail themselves of the opportunity as part of the debt collection process.

Creditors 52

Creditors Collections Debtor Judgment 52

Jimerson Firm

DECEMBER 27, 2023

When a debtor files for bankruptcy, a creditor may be able to seek dismissal of the bankruptcy if the petition was filed in bad faith. This article will provide an overview of the options available to a creditor if a debtor with primarily business debts files for Chapter 7 bankruptcy.

Debtor 59

Debtor Bankruptcy Chapter 7 bankruptcy Creditors 59

The Kaplan Group

AUGUST 6, 2020

This means that creditors can come after your personal assets to pay off business debt. Creditors can also try to “pierce the corporate veil” and seek payment from shareholders if you pay personal expenses with business funds. You should know that once a judgment is issued the creditor can get a lien. Declare Bankruptcy.

Garnishment 105

Garnishment Bankruptcy Creditors Debtor 105

Stevens Lloyd

DECEMBER 13, 2018

You have initiated a lawsuit and won a Default Judgment against the debtor. Judgments are worthless unless you can locate and garnish the debtor’s assets, however. Extracting money from judgments necessitates obtaining significant information about the debtor as it relates to their assets. So now what ?

Debtor 45

Debtor Debt Recovery Judgment Collections 45

Collections Law

APRIL 9, 2021

You’ve won your case in court, and your debtor needs to make the necessary payments to resolve the outstanding debt. Bank and Real Estate Attachments. Cohen LLC will frequently seek to attach your debtor’s bank accounts — either with notice or ex parte — in our efforts to secure payments from your debtor.

Debtor 52

Debtor Judgment Collections Debt Recovery 52

Sawin & Shea

SEPTEMBER 14, 2022

They can assist you through the bankruptcy process and can keep creditors from unlawfully harassing you. An automatic stay prevents creditors and lenders from collecting debt or collateral on protected assets. With consumer debts, co-debtors receive the protection of an automatic stay. What is Consumer Debt?

Chapter 7 bankruptcy 122

Chapter 7 bankruptcy Chapter 13 bankruptcy Bankruptcy Student loans 122