Providing Debt Relief for Clients Throughout the State of New York

GOLDMAN SACHS DEBT LAWSUITS

Goldman Sachs, a company known for its investment banking operations, is now a common creditor that we are seeing filing lawsuits against consumers. These lawsuits stem from their newer Marcus loan products as it was very rare to see any Goldman Sachs lawsuits in the past. Goldman is retaining Zwicker & Associates, a common debt collection law firm to sue consumers on their behalf. Like other consumer debt lawsuits, many of these will result in default judgments against consumers who are not properly served for one reason or another. These judgments then lead to a bank levy, wage garnishment, or lien on real property while 9% judgment interest accrues on top of the debt amount.

The key to defending against these Goldman Sachs lawsuits is to submit an answer with defenses to protect against a default judgment. Alternatively, an Order To Show Cause to vacate the default judgment must be filed immediately if one is obtained to prevent judgment enforcement efforts by Zwicker and Associates. Vacating the judgment reopens the case and gives the consumer the ability to defend themselves as if they had received the lawsuit to begin with. Submitting an answer also keeps the burden on Goldman to prove their case and gives the defendant the leverage necessary to negotiate a settlement with Zwicker. A settlement is often the most practical solution to these lawsuits as it eliminates the risk of losing the case, reduces the balance of the debt significantly, and mitigates higher legal fees for representation.