Category Archives: Loan Collection

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 »

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 »

Have Questions About a Foreign Judgment? A New Jersey Collections Law Firm Can Help!

If you are a business owner, it may seem difficult or overwhelming to try and enforce a judgment ordered by a foreign court. As your New Jersey collections law firm will explain further, foreign judgments are routinely enforced by New Jersey judges and an experienced New Jersey collections attorney can help you easily streamline the …Read More »

How Do Writs of Execution Work?

An important part of loan collection is seeking and enforcing judgments. A New Jersey collections attorney can help you obtain a writ of execution, which is a court order to enforce judgments for paying debt. New Jersey Rule 4:59 Process to Enforce Judgments outlines how a writ of execution works, including the process for collecting …Read More »

A Collection Attorney in New Jersey Discusses Illegal Debt Collection Practices

When a creditor seeks to pursue collection of a debt, there are a variety of strict laws that must be followed. A collection attorney in New Jersey is a great resource for helping you understand what is permitted. The Fair Debt Collections Practices Act As a collection attorney in New Jersey can explain, the FDCPA …Read More »

New Jersey Collections Law Office Discusses the Promissory Note

As your New Jersey collections lawyer will explain, the promissory note is the pivotal document creating a creditor/debtor relationship. This document serves as evidence of the existence of a loan, without which it may be very difficult to recover for breach or default in New Jersey Superior Court. If you need assistance creating promissory notes …Read More »

Uniform Enforcement of Foreign Judgments Act Explained by a New Jersey Collections Law Firm

Debtors who have a judgment entered against them in another state will find that the judgment may be enforced in New Jersey as well. Similarly, an attorney at a New Jersey collections law firm can explain to you that foreign jurisdictions may also recognize New Jersey judgments. As a result, creditors can generally pursue New …Read More »