Many lawsuits, particularly with old debts, are brought by "debt buyers" who purchase debts from original creditors. Such "debt buyers"
might have difficulty proving in court that they own the debt, that the
debt ever existed, or that you owe the complete amount claimed. Furthermore,
even if they could prove these things, "debt buyers" sometimes
seek to collect debts after the
statute of limitations has expired. One strategy sometimes used by debt buyers is to try to convince
the debtor to make a small payment on a very old debt, because doing so
can restart the statute of limitations. Be wary about making any commitment
to pay on a debt that is more than six years old in New York.
These "debt buyers" ground their business model on the assumption
that most consumers will not hire an attorney and fight the lawsuit. They
count on obtaining "default judgments" without having to ever
prove their case. If you hire an attorney to aggressively defend the
debt lawsuit, it may be possible to get the case dismissed, or to achieve a substantial
reduction in a settlement. Moreover, if the debt buyer is bringing a lawsuit
to collect on an a time-barred debt, or otherwise commits an unfair practice
or violation of consumer laws, you may be able to fight back by claiming
damages from the debt collector in a federal lawsuit.
As of 2016, our office has seen activity with the debt buyers listed below
whom are known to initiate a large amount of lawsuits in New York and
to have obtained a large amount of default judgments in prior years.
Credit Card Debt Buyers:
- Midland Funding
- LR Credit, LLC
- Portfolio Recovery Associates
- LVNV Funding
Student Loan Debt Buyers:
- Arrowood Indemnity
- United Guaranty
- National Collegiate Student Loan
Debt Buyers that collect on credit cards, student loans, and other debts:
- Cavalry SPV I LLC
- Cach, llc
AGGRESSIVE DEBT LAWSUIT DEFENSE IN NEW YORK
At the Law Office of Simon Goldenberg, PLLC, we take pride in the breadth
of solutions we are able to provide to our client's. We fight to get
our client's the very best results possible under their circumstances.
That's why our principal lawyer has been conferred with the designation
of "Rising Star" by Superlawyers for 2014 & 2015. Contact
us for a free phone evaluation.
To find out more about how our team of experienced defense attorneys can
help you, call (888) 301-0584 or
contact us online to
schedule a free consultation today.