Category Archives: Commercial Collections

What Creditors Should Know: Consumer Fraud Laws and Payday Lending

Short-term, low-dollar lending transactions are prevalent in today’s marketplace, particularly with budding digital payment options for consumers.  With consumer protection being a primary concern, the federal government has implemented regulation of payday lending that creditors and borrowers should keep in mind when transacting these types of loans. A New Jersey collection attorney can help you …Read More »

Consumer Fraud Laws Affecting Auto Creditors

If you finance automobiles to consumers, it is important to be aware of the federal consumer fraud laws affecting auto creditors and regulations that apply when a creditor transacts a loan. The Federal Trade Commission and the Consumer Financial Protection Bureau (CFPB) have become increasingly active in enforcing laws implicated in auto loan transactions. Sometimes …Read More »

How the New Jersey Uniform Fraudulent Transfer Act Helps Creditors Collect Debts

New Jersey, like many other states, has enacted a law that helps creditors when debtors transfer property that could otherwise be used to satisfy their debts. The law is called the New Jersey Uniform Fraudulent Transfer Act (“NJUFTA”). Creditors’ rights under the New Jersey Uniform Fraudulent Transfer Act include: Fraudulent Transfers Typically, in a fraudulent …Read More »

Obligations on Debt Collectors under the Fair Debt Collection Practices Act

  Fair Debt Collection Practices Act Debtor protections laws have been around for years, although they are now receiving more attention given widespread credit card use and digital payment platforms.  The primary federal statute governing debt collection is 15 U.S.C. §1601, known as the Fair Debt Collection Practices Act (FDCPA). The FDCPA was enacted in …Read More »

Steps in Suing to Collect a Debt

Pre-filing Investigation Before suing to collect a debt, as a lender you must first do the same type of due diligence investigation that you performed before granting the loan.  You should inquire about the debtor, review the loan documents with your attorney, evaluate the collateral if applicable, and investigate if any other parties have a …Read More »

Common Mistakes Creditors Make and How to Avoid Them

The objective of every loan agreement from a creditor’s perspective is to avoid having to pursue remedies against a debtor because of an “event of default.”  An event of default is a circumstance that provokes the creditor to demand full payment under the loan agreement.  Suing a debtor can be a mistake in itself.  As …Read More »

Preparing to Handle Requests for Production of Documents

Here, we’ll evaluate the process to preparing for the requests of production of documents. During the discovery phase of your lawsuit, you should expect the first exchange of information with your opposing party to be centered on document review.  Preparation for responding to requests for production of documents should, if possible, begin even before the …Read More »

7 Factors That Determine Whether You Have a Viable Commercial Lawsuit

Before resorting to litigation, you and your attorney need to evaluate numerous factors to determine whether you have a viable commercial lawsuit.  The first step in any commercial dispute is to obtain experienced counsel and ensure through a retention agreement that the scope of the services the attorney has agreed to perform dovetails with your …Read More »

BREACH OF CONTRACT BASICS: PROOF; DEFENSES; AND DAMAGES

One of the most common reasons that people and businesses become involved in lawsuits is due to an alleged breach of contract. The contract could be for goods, services, real estate, or employment, to name just a few of the most common subjects. The New Jersey breach of contract lawyers at Snellings Law LLC are …Read More »

Common Defenses and Counterclaims in Debt Collection Lawsuits

Whether you are an original creditor or debt buyer (also called third party collector), you may sue a consumer on an unpaid debt. Parsippany debt collection lawyers understand that your goal as a creditor is to secure a swift judgment and then pursue post-judgment remedies to collect the judgment from liquidation of the debtor’s assets …Read More »

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