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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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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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.

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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.

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Account Recovery

DECEMBER 30, 2024

Gretchen Whitmer, introduces substantial changes to how creditors can collect debts and what assets debtors can protect. Supporters, including Representative Kara Hope, argue these updates are necessary to prevent financial devastation while allowing debtors to maintain basic living standards and continue paying their daily expenses.

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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. But it rarely is that easy. Bank and Real Estate Attachments.

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Nexa Collect

MARCH 12, 2021

Skip tracing, employment and asset tracking, locating real and personal property, investigating liens, judgments, and corporate filings with the local Secretary of State, are but a few of the methods used to recover your receivables. All that being said, in Puerto Rico interest is allowed on money judgments, at a rate of 6%.

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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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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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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. For out-of-state creditors, the commercial litigation collections lawyers at Law Offices of Alan M.

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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. Prior to filing its motion, the debt buyer did not conduct a search for bankruptcy filings.

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FFGN COLLECT NY

NOVEMBER 12, 2021

But aside from the difference in cost advance, is the increase of the monetary limit in the civil courts good for creditors bringing debt collection claims in the New York state courts? Take for example New York Civil (Manhattan), where creditors who waited nine months for judgments pre-pandemic now find themselves with an 18-24 month wait.

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FFGN COLLECT NY

JUNE 3, 2020

With both consumers and small businesses receiving funds from the Paycheck Protection Program (PPP) and CARES Act, questions have come up as to whether these amounts can be frozen or garnished by debt collectors or creditors. Is garnishing PPP or CARES Act funds an option for satisfying outstanding monies owed to judgment creditors?

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FFGN COLLECT NY

APRIL 23, 2024

New York debt collection laws allow judgment creditors many ways to collect from debtors. One option available is to take over or “charge” a judgment debtor’s interest in an LLC or limited liability company. NY Civil Practice Law and Rules Article 52 is the go-to statute for judgment enforcement in New York.

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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. A bank attachment is a powerful post-judgment collection tool. What is a bank attachment?

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Collections Law

FEBRUARY 2, 2024

Unfortunately, when a company has experience as a debtor, sometimes, this has given them an opportunity to learn a few tricks to try and avoid collection efforts. Cohen & Associates LLC know that debtors will sometimes go to great lengths to avoid paying their debts. Obtaining a judgment whether procedurally or at trial.

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Collections Law

DECEMBER 27, 2024

Watching your debtor continue business as usual while they owe you money can be incredibly frustrating. You have a judgment in hand, yet your debtor seems unfazed, conducting transactions and collecting payments without a second thought to what they owe you. Prioritize your debt, giving it precedence over other creditors.

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Collections Law

OCTOBER 12, 2021

When you win your judgment case against a debtor who has not paid, you may not want to celebrate just yet. Cohen LLC, we employ many different methods of collecting for our clients, but when the debtor fails to cooperate, we may turn to the courts for help through supplementary process. At Law Offices of Alan M.

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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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FFGN COLLECT NY

OCTOBER 16, 2020

After finally collecting the monies owed to you through debt collection litigation, the debtor wants their money back. Can a debtor really get their money back? If the demand is not productive, you needed to sue and wait for judgment. Only once the judgment is entered can you collect the monies through judgment enforcement.

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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. Cohen & Associates LLC.

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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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Collections Law

SEPTEMBER 24, 2021

If you are having trouble collecting a commercial debt, you may wonder what you can do to make the debtor pay. If your debtor owns real estate in Massachusetts, a real estate attachment could be just the tool you need. Real estate attachments are a type of pre-judgment attachment. How does a real estate attachment work?

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Collections Law

JANUARY 10, 2024

Securing a judgment for a debt and actually getting paid are two different things. However, if your debtor owns property in Massachusetts, your company has an edge on collecting the money that is owed to you. A real estate attachment is a pre-judgment attachment. An attachment will put you at the front of the line of creditors.

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PBWT

JULY 20, 2021

The Bankruptcy Code grants the power to avoid certain transactions to a bankruptcy trustee or debtor-in-possession. Is there a general requirement that these avoidance powers only be used when doing so would benefit creditors? Plaintiff moved for summary judgment on this issue in April 2021. See, e.g., 11 U.S.C. §§

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Collections Law

NOVEMBER 13, 2024

You’ve gone through the trouble of obtaining a judgment against a debtor, yet here you are, now facing the frustration of having to find money to collect. The debtor seems to have vanished, taking their assets with them. If the debtor fails to appear, the court may issue a capias warrant, leading to their arrest.

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FFGN COLLECT NY

DECEMBER 2, 2024

Will a bankruptcy court allow the debtor to keep monies intended for you? The bankruptcy court refused to grant a discharge to a debtor who failed to turn over insurance checks to the provider. In the case at hand, the creditor sued their former client for breach of contract in New York State Court. 523 (a)(2), (4), or (6).

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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. The city marshal will levy the debtor’s commercial property, bank accounts, and other assets. When Is a Sale Appropriate?

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Collections Law

FEBRUARY 22, 2022

Cohen LLC, our attorneys have nearly 50 years of combined legal experience peeling back the layers of a company’s transactions to find fraudulent conveyances that reveal a debtor’s hidden assets. On paper, it may appear that the debtor no longer owns that property, but in reality, they still control it.

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Collections Law

DECEMBER 19, 2022

A foreign judgment is a judgment, decree, or court order outside of the Commonwealth of Massachusetts. Creditors can use certain legal tools to collect from deadbeat debtors, but the process requires following a complex legal process. How does a creditor collect on a foreign judgment?

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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.

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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. In this instance, we found six cases filed against the debtor.

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FFGN COLLECT NY

MARCH 23, 2022

You have taken the steps necessary to domesticate an out-of-state or foreign country judgment in New York and are ready to start restraining assets to satisfy the judgment. Before you make your next move, there is a step our firm recommends taking before you execute on a domesticated judgment in NY. More specifically: §5403.

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FFGN COLLECT NY

FEBRUARY 4, 2024

Domesticating an out-of-state judgment is easier in New York when the out-of-state court awarded the judgment “on the merits,” meaning the defendant appeared in the case. Filing an out-of-state default judgment—a judgment awarded when the defendant did not appear—is a bit more timely and challenging.

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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. Can you help?

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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.

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FFGN COLLECT NY

JUNE 17, 2022

New York gives full faith and credit to judgments entered in other states as required by the Constitution and under New York Civil Rules, provided the judgment was not entered on default and not entered pursuant to a confession of judgment. The creditor must then obtain an exemplified copy of the judgment from California.

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