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. Knowing whether or not the debtor owns crypto like bitcoin is of course a challenge.

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Debtor Creditors Government Banks 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. What If Funds Exempt From Judgment Enforcement Are Held?

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UK debt collections

APRIL 11, 2025

Yet the report discovered a unsatisfactory and ineffective civil enforcement system that is failing debtors as well as the claimants. A County Court Judgment (CCJ) is usually the first step in the legal process for creditors and claimants, trying to recover owed monies.

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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.

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Debtor Judgment Collections Banks 52

FFGN COLLECT NY

NOVEMBER 4, 2021

There is no state as liberal as New York when it comes to commercial debt collection and the enforcement of judgments against commercial entities. New York Civil Practice and Rules Article 52 grants the judgment creditor many liberties and privileges when it comes to enforcing a judgment.

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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.

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Judgment Banks Garnishment Commercial Collection 52

Account Recovery

JANUARY 13, 2025

In the meantime, now is a good time to revisit and update your policies and procedures related to debtor workplace communications. Based on this allegation, the court found that the information related to the missed payments was materially inaccurate.

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Healthcare Debt collector Banks Debtor 130

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.

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Debtor Banks Judgment Creditors 52

Jimerson Firm

AUGUST 12, 2021

Lenders who move for summary judgment under Florida’s new summary judgment standard will likely enjoy more favorable outcomes. The court’s more rigorous review of attempts to withstand summary judgment will change expected litigation outcomes, impact litigation strategy, and largely benefits lenders. Guild of America, Inc.,

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Judgment Lender Loans Debtor 98

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. Very often your initial attorney who obviously excels at winning the case for you does not know the ins and outs of debt recovery or post-judgment collection. Bank and Real Estate Attachments.

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Debtor Judgment Collections Debt Recovery 52

FFGN COLLECT NY

MARCH 25, 2024

At the time of the interview, Press had indicated that it may not be possible for the former President to bond the State’s almost Five Hundred-Million-dollar ($500,000,000.00) judgment. If the bond cannot be posted and execution of the judgment is not stayed, the judgment can be enforced here in New York and elsewhere.

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Lawyers Judgment Collections Judgment Enforcement 98

FFGN COLLECT NY

NOVEMBER 17, 2024

MCA companies provide cash advances in exchange for an agreement that allows for immediate draws on bank accounts, liens on merchant accounts, and personal guarantees from officers. Judgments were immediately entered upon default due to confessions of judgment executed by the guarantors and debtor companies.

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Loans Judgment Lender Debtor 52

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 Garnishment Creditors 59

Collections Law

JULY 6, 2021

Cohen LLC, you will find that the process of domesticating and enforcing foreign judgments against your debtors is a much more straightforward process than one would typically expect. Filing of Judgments. Once your foreign judgment is domesticated by registration and enforced, the Law Offices of Alan M.

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Debtor Judgment Collections Lawyers 52

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 ?

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Debtor Debt Recovery Judgment Collections 45

FFGN COLLECT NY

AUGUST 12, 2021

If you have a judgment against a person who owes you a sizable debt and had little success enforcing the judgment through traditional means, alternative options might afford better results. However, if the debtor is a beneficiary of a deceased New Yorker’s estate, you may be able to enforce the judgment through estate distribution.

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Debtor Judgment Judgment Enforcement Creditors 52

Jimerson Firm

DECEMBER 10, 2021

Many secured creditors and equipment leasing companies have encountered defaulted debts, where the debtors and lessees retain possession of the collateral, including cars, boats, machinery, or other equipment. Self-help asset recovery is more commonly known as repossession. Replevin. Security Underwriting Consultants, Inc. 2d 752 (Fla.

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Secured Creditor Repossession Collateral Creditors 98

Account Recovery

AUGUST 26, 2024

WHAT THIS MEANS, FROM STACY RODRIGUEZ OF ACTUATE LAW: After a collection law firm garnished an Arizona judgment debtor’s bank account, the debtor raised FDCPA claims alleging that all funds in the account were social security benefits and, thus, exempt from garnishment. More details here.

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Garnishment Fair Debt Collection Judgment Law Firms 130

Nexa Collect

JANUARY 19, 2022

If the debtor is not traceable or unresponsive, a collection agency can file a lawsuit and if you do not respond in the court on time, it can result in a default judgment against you. Repercussions can include wage garnishment, frozen bank account and other assets. Not every case lands in court.

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Collections Debt collector Collection Agencies Collections Agency 130

FFGN COLLECT NY

SEPTEMBER 22, 2021

A client of ours in the waterproofing business asked for our best practices when enforcing a judgment. Best practices would generally infer that judgment enforcement differs based on the creditor’s industry, but that’s not the case. There are limits when it comes to searching for individual consumer debtors through social media.

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Judgment Mechanic’s Liens Debtor Banks 52

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.

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Debtor Judgment Creditors Collections 52

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. All that being said, in Puerto Rico interest is allowed on money judgments, at a rate of 6%.

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Collection Agencies Collections Agency Collections Garnishment 130

Collections Law

JANUARY 13, 2023

It is extremely frustrating to discover that your debtor owes other people a lot of money. 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. Since your debtor isn’t in bankruptcy, we can pursue the debt aggressively.

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Debtor Judgment Collateral Garnishment 52

Collections Law

DECEMBER 6, 2023

Collecting on a foreign judgment from a debtor in another state can be complicated, but not impossible. Cohen & Associates LLC, we regularly counsel out-of-state clients on debt collection from their debtors who have assets in Massachusetts. After 30 days, the judgment is executed in Massachusetts.

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Judgment Collections Debtor Banks 52

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. Very often your initial attorney who obviously excels at winning the case for you does not know the ins and outs of debt recovery or post-judgment collection. Bank and Real Estate Attachments The Law Offices of Alan M.

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Debtor Judgment Collections Debt Recovery 40

Collections Law

FEBRUARY 1, 2023

We act quickly to freeze assets so they will be available to pay a judgment There are many scenarios that could explain a debtor refusing to make good on a bad check. Luckily, they don’t all involve the debtor having no money or going into bankruptcy. For example, when we sue, we may seek an ex parte bank attachment.

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Collections Judgment Banks Debtor 89

Collections Law

MAY 10, 2022

The first major question we must ask is whether we will pursue an attachment to the debtors assets before we have a judgment from the court, known as a prejudgment attachment. Our other option is to wait until after we receive the judgment from the court, known as post-judgment collection. Cohen LLC.

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Judgment Collections Debtor Commercial Collection 52

FFGN COLLECT NY

MAY 8, 2024

In addition to refunding the monies, the bank also had to pay penalties for the unlawful freezing of the bank accounts. Between 2016 and 2022, Pathward wrongfully froze 1,400 bank accounts belonging to New Yorkers. The laws also prohibit banks from freezing accounts with protected wages, a set amount based on minimum wage.

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Banks Debt collector Judgment Creditors 52

FFGN COLLECT NY

AUGUST 26, 2024

How do you get paid when you’ve won your New York debt collection case and have a money judgment? The city marshal will levy the debtor’s commercial property, bank accounts, and other assets. Read on to understand the mechanics of the sale and how to satisfy your judgment. When Is a Sale Appropriate?

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Judgment Debtor Creditors Lender 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. 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. We called this “creditor financing.”

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Debtor Creditors Judgment Collections Agency 52

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. Not Just Domestication — Enforcement, Too.

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Judgment Collections Debtor Foreclosure 52

Collections Law

MAY 7, 2021

Winning your case in court is often the easy part of the legal debt collection process; it’s collecting your payment post-judgment where things get challenging and require a bit of strategy. Finding Your Debtor’s Assets. The first step in this process is determining which of your debtor’s assets can be seized to get you paid.

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Judgment Mechanic’s Liens Collections Debtor 52

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.

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Debtor Bankruptcy Chapter 7 bankruptcy Creditors 59

Troutman Sanders

JANUARY 29, 2024

As background, in 2002, the debtor and her then-spouse jointly filed a “no asset” Chapter 7 bankruptcy petition. However, testimony later showed that the entity listed as holding the debt, Direct Merchants Bank, was not the actual creditor but rather a registered trademark owned by Metris Companies.

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Bankruptcy Chapter 7 bankruptcy Credit Card Debt Garnishment 98

Collections Law

JANUARY 7, 2021

If you are an out-of-state business dealing with a delinquent debtor in the Commonwealth of Massachusetts, it’s a much more straightforward process than you might think to domesticate your judgment. However, it is still an uphill battle to have such a judgment enforced. Attachment of Assets. Supplementary Process.

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Judgment Judgment Enforcement Debtor Debt Recovery 52

Jimerson Firm

JANUARY 26, 2023

When a judgment creditor in Florida attempts to collect on a judgment involving an individual, one mechanism for doing so is through a garnishment action of the judgment debtor’s bank account. Florida has a statutory garnishment process that judgment creditors must follow. See Florida Statute Chapter 77.

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Garnishment Banks Collections Judgment 52

PBWT

NOVEMBER 15, 2020

The Bankruptcy Code enables a trustee to set aside certain transfers made by debtors before bankruptcy. In 2015, Defendants brought a motion for summary judgment under section 546(e), arguing that the transfers were protected by the safe harbor. The court thus granted the motion for summary judgment. See 11 U.S.C. §§

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