Stephen Einstein is one of the largest debt collection law firms in New York. They represent a variety of original creditors but often represent debt-buyers in pursuit of collection, litigation and judgment enforcement efforts. They are well known for acquiring a large portfolio of debt cases from Mel S Harris whom they acquired when it ran into substantial problems some years back. Stephen Einstein represents different sectors of the collection industry as they commonly represent Ally Financial and Credit Acceptance Corporation, an original creditor and debt-buyer respectively of auto-repossession debt. They also represent common credit card debt-buyers such as Crown Asset Management and Pinpoint Technologies.
All of these creditors pursue the same collection avenues of pre-litigation collection, followed by the filing of a lawsuit which often leads to a default judgment and results in a wage garnishment or bank levy with judgment interest accruing. It is critical for consumers to ask for validation of the alleged debt against them when dealing with a debt-buyer client and it is even more important to ask whether Stephen Einstein ever properly filed and served notice of a substitution of counsel for cases that they have taken over from firms such as Mel Harris. A failure to serve a consumer with such a notice can be enough to have the entire case against them dismissed. These legal defenses also provide the necessary leverage to engage in settlement discussions to lower the debt amount on these matters substantially.