Malen and Associates is a common debt collection law firm in New York. They represent a wide variety of creditors and debt-buyers in three common phases:
- Collection in pre-litigation matters
- Litigation or the commencing of a lawsuit against consumers
- Post-Judgment-enforcement matters
We often Malen representing original creditors such as Capital One Bank and debt-buyer creditors such as LVNV Funding, Caddis Funding, and Velocity Investments.
Although pre-suit settlements do happen, litigation is very common with these creditors. Litigation frequently leads to default judgment because of service issues and a judgment can lead to wage garnishment, bank levy, and even liens placed on real property often preventing consumers from buying or selling property. The total balance also increases due to NY State judgment interest of 9%. It is imperative to submit an answer with defenses to prevent a default judgment if a lawsuit is received. Likewise, filing an order to show cause to vacate a default judgment is even more important so that a consumer can defend themselves on the merits of the case. A consumer also has the ability to negotiate a settlement with Malen and Associates on a significantly reduced balance in any of the above phases. However, to achieve the best settlement on the debt, a default judgment must be avoided or vacated, legal defenses must be asserted, and financial and or medical hardship should be shown to help lower the settlement balance.