By Leslie H. Tayne, Esq.
January 25, 2023
Unfortunately, debt is a way of life for most Americans. In 2021, total outstanding consumer debt reached a record $15.6 trillion, according to new data from the Federal Reserve Bank of New York. A large chunk of that debt came from mortgages and credit card balances, which increased by $52 billion in the last three […]
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By Leslie H. Tayne, Esq.
December 30, 2022
If a debt collector has contacted you, it’s critical to verify that the debt belongs to you and the information is accurate before you agree to pay or even acknowledge that it’s yours. Collection agencies are required by law to provide a debt validation letter after they first contact you, commonly referred to as proof […]
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By Leslie H. Tayne, Esq.
December 30, 2022
If you have credit card debt or student loans but you have some retirement savings, there’s a good chance that you’ve thought about borrowing from a 401(k) to pay off debt. While borrowing from your retirement account is certainly an option, like any other financial decision, it does come with its own pros and cons. […]
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By Leslie H. Tayne, Esq.
December 30, 2022
Getting in over your head with debt can be scary, especially if debt collectors have threatened to sue you. However, you have certain rights and protections as a borrower that are important to know. That includes the statute of limitations on debt, which varies by state. So if you’re a New York state resident facing […]
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By Leslie H. Tayne, Esq.
November 22, 2022
If you’ve taken out a merchant cash advance (MCA), you may already have an MCA UCC lien on your business credit reports. While this is typical for MCAs and other forms of business financing, it could impact your ability to get credit in the future. This is especially the case if the information in the […]
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By Leslie H. Tayne, Esq.
October 21, 2022
When your debt is out of control, it’s important to act quickly and find a solution. One option is debt settlement, which can help you eliminate your debt and pay less overall. But the debt settlement industry has its share of risks and scams. So you might be wondering: Are there dangers of debt settlement […]
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By Leslie H. Tayne, Esq.
September 14, 2022
As with a small business loan, a merchant cash advance (MCA) involves a contract between you and your provider. If you stop making your payments, it could result in a merchant cash advance breach of contract, and the MCA lender could sue you. Dealing with merchant cash advance legal issues can be a pain for […]
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By Leslie H. Tayne, Esq.
August 23, 2022
Making all of your payments on time is important, but mistakes can happen. If you have one or two missed payments on a loan or credit card, your lender will likely charge you a late penalty and your credit score can take a hit. However, if you have several late payments and fail to pay […]
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By Leslie H. Tayne, Esq.
August 16, 2022
Dealing with phone calls and mailings from debt collection agencies can be a stressful and frustrating experience. But once they file a lawsuit, you may fear the potential repercussions. If you’re wondering how to win a debt collection lawsuit against you, here are six steps you can take. 1. Respond to the Lawsuit One of […]
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By Leslie H. Tayne, Esq.
June 27, 2022
Loans or credit card debt that have gone to collections can wreak havoc on your finances. It hurts your credit score, and debt collectors start calling you day and night. So you’ll want to find a solution to your debt problems ASAP. Debt consolidation for collections accounts is one option to explore. However, there are […]
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