Judgment Recovery Services Latham NY

The collecting of debts happens to millions of people every day in a variety of different ways. Judgment recovery services are a business that allows a company to attempt to collect a debt from an individual or a company. There are many ways that a debt can legally be attempted to be collected.


1 . Local Companies

Primerica Financial Svce
(518) 713-2036
678 Troy Schenectady Rd
Latham, NY
Guardian Life Insurance Company of America Agency the
(518) 785-5174
43 British American Blv
Latham, NY
Norvest Financial Svce Inc
(518) 782-9334
930 Albany Shaker Rd
Latham, NY
Hugos Andrew Chfc
(518) 782-7283
623 New Loudon Rd
Latham, NY
East-West Securities Co
(518) 785-4000
12 Avis Dr
Latham, NY
Unlimited Financial Services
518-756-8118
PO Box 125
Coeymans Hollow, NY
Nesco Accounting & Finance
(518) 220-2560
15 British American Blv
Latham, NY
Northeast Financial Advisord
(518) 220-2580
974 Albany Shaker Rd
Latham, NY
Primerica Financial Svce
(518) 783-2250
678 Troy Schenectady Rd
Latham, NY
Nys Tax and Finance
(518) 389-4701
299 Old Niskayuna Rd
Latham, NY

2 . Garnishment of Wages

A garnishment is the act of collecting on a monetary judgment against a defendant by ordering their employer to pay the money directly to the plaintiff instead of to the defendant themselves. Wage garnishment is the most common form of garnishment, and is typically collected in cases of owed child support, taxes and unpaid court costs. The limit in the United States that the courts can take out is up to 25 percent at a time. This will be taken out of what is called disposable income that the defendant earns.

When a person does not pay their previously court-ordered child support or other obligation, a garnishment of earnings or wages may be pursued. There are a few steps that go into obtaining funds by garnishment. Before a garnishment begins, all information is checked about the judgment debtor's place of employment or status within the company they work in or for. Some may claim that they are exempt from a garnishment-in this case; the collector must verify this information with the proper authorities. Garnishes will then be taken out by the employer as part of the payroll process, simply put; the money is taken from the debtor's paycheck before they can cash it.

It may be relatively easy for a court to order the garnishment of a person's wages and assets. There are only a few requirements that have to be satisfied before the IRS will allow a garnishment to take place.

3 . Debt Collection Agencies

A debt collection agency is a company that goes after payments that are owed by either an individual or a business. In this business, the majority of collection agencies operate individually for the creditors, collecting debts in return for a fee or a percentage of the collection. There are also agencies that are referred to as debt buyers that may buy debts from creditors at a very low price, and then try to collect them at their full price. Whatever the difference is between the amount that is collected and the whole value of the debt can than be written off the records as a loss.

Many debt collectors have bad reputations as being threatening and harassing. There are certain laws, however, that prohibit practices that are abusive towards customers. These laws are typically governed through the Fair Debt Collection Act and can result in criminal action being taken if they are not followed. A customer may also dispute the debt they are being questioned on, and the collection agency must make a note of this dispute in their records. Debt collection agencies typically do their business by phone calls and through postal mail.

4 . Assets that May be Legally Seized

Once a judgment recovery is finalized, there are different items of value that may be legally seized. Bank accounts are not only easy to collect judgments from, they can also be taken fast. Real estate is another item that may be easy to obtain in a judgment recovery. The way to do this is to have a lien filed against a property that is owned by a debtor, as when they sell or refinance it, the lien holder will receive payment on the claim for it. Other assets that may be seized are any security deposits that a debtor may have, such as a security deposit with an apartment company for living arrangements. This may be levied to enforce the collection.

In some states, a second car may be repossessed if a judgment debtor happens to own more than one vehicle. Business income can be collected if a debtor has a business. A sheriff may go into the company at close and physically take the money in an attempt to settle a debt. Tax refunds are a big asset that can be taken if a judgment needs to be satisfied. Garnishment can occur in both state and federal tax refunds.

There are many assets that can be taken in judgment recovery cases. The best way to avoid this is to settle your debts as quickly as possible.
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