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N.Y. Enacts Law Lowering Judgment Interest on Consumer Debts

Account Recovery

The Governor of New York last week signed a bill into law that will lower the interest rate that can be charged on unpaid money judgments to 2%. The law not only applies to new judgments, but also will be applied retroactively to any judgment that is not fully paid or satisfied when the law … The post N.Y.

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Report Labels Post-Judgment Interest as New ‘Battleground’ for ARM Industry

Account Recovery

The collection of post-judgment interest is in the news, and is being cited as a relic of “a different era” which can cost the amount of debt owed by an individual to “balloon in a way that makes it hard to” repay.

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NCLC Report Grades States on Garnishment, Judgment Protections

Account Recovery

A report issued last week by the National Consumer Law Center grades each state on its exemption laws, which determine how much consumers can protect from judgments and garnishments, determining that none of the 50 states or other territories meet what the organization defines as the five basic standards.

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Judge Vacates Default Judgment Against Defendant in FDCPA Suit

Account Recovery

A District Court judge in Indiana has granted a motion to vacate a default judgment that was entered against a defendant in a Fair Debt Collection Practices Act case, ruling that the plaintiff never properly served the defendant with the summons and complaint, after the defendant removed the case to federal court.

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Judge Denies Default Judgment Motion in FDCPA Case

Account Recovery

Better late than never, a federal judge in Nevada has ruled, denying a motion for default judgment against a defendant in a Fair Debt Collection Practices Act case because the defendant has now starting to defend itself “in earnest.” ” A copy of the ruling in the case of Hankerson v.

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Judge Sets Aside Default Judgment Against Defendant in FDCPA Case

Account Recovery

A District Court judge in North Carolina has granted a defendant’s motion for relief from judgment on the grounds that a default judgment obtained by the plaintiff in a Fair Debt Collection Practices Act case is void due to lack of service of process. A copy of the ruling in the case of Becvar v.

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Judge Grants MTD in FDCPA Class Action Over Judgment Renewals

Account Recovery

A District Court judge in Nevada has dismissed – with prejudice – a plaintiff’s class-action complaint that a defendant violated the Fair Debt Collection Practices Act by filing renewals for a judgment on an untimely basis, ruling that the defendant renewed the judgments within the window set forth by state law.

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