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ERIN CAPITAL MANAGEMENT WAGE GARNISHMENT

We were recently retained by a consumer to help with an Erin Capital Management default judgment against her. Erin Capital Management is a common debt buyer that buys debt from original creditors such as Citibank and Chase for pennies on the dollar. Often, the debt they acquire is bought from other debt buyers that buy it from the original creditors. This leads to multiple levels of assignment from one company to another which then requires Erin Capital or any holder of the debt to prove that they have the proper standing to sue a consumer as the proper owner of the debt. Simply put, they must show that they are the rightful owner of the debt having acquired it properly through the assignment of debt. Erin Capital frequently retains the debt collection law firm of Eltman Law to pursue debt collection cases in New York and New Jersey. Eltman's goal is to sue the consumer and obtain a default judgment so that they win quickly and easily without the consumer having the ability to defend themselves on the merits of the case. Unfortunately, this scenario happens most often due to improper service of the summons and complaint.

In this matter. Eltman Law sued our client and was able to obtain a default judgment because she was never served at her correct address. The judgment against her was obtained six years ago although she had no knowledge of it and New York judgment interest was accruing against this debt at 9% and the debt had ballooned to over $15,000. Our client only found out about the judgment and debt because she received a wage garnishment notice from her job stating that the debt would be taken out of her pay weekly with interest accruing in the meantime. We contacted Eltman Law immediately and served them with an order to show cause which we had filed with the court asking for the judgment against our client to be vacated as she had just discovered it against her because of the pending wage garnishment. Eltman agreed to vacate the judgment and offered a low settlement to dispose of the matter for under $5,000 to avoid litigation fees.

Interestingly enough, Eltman Law also notified us that most of their portfolio of Erin Capital Management cases were now being transferred over to the debt collection law firm of Houslanger & Associates, a firm that we defend against quite often. We are sure that we will start seeing Houslanger pursuing many bank levy’s and wage garnishments on behalf of Erin Capital in the near future.

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