Selip and Stylianou Debtselip and Stylianou Debt Collection & Litigation Collection & Litigation

Selip and Stylianou is a common debt collection law firm in both New York and New Jersey. We frequently see them representing original creditors like Capital One Bank and Discover Bank along with debt-buyers like Midland Funding. Their goal is to collect from consumers in pre-litigation or sue if they cannot do so. These lawsuits often produce default judgments against consumers due to poor or improper service by process servers. However, consumers in NY and NJ also frequently move which leads to just as many default judgments. These judgments are dangerous because they accrue interest at 9% in New York and the Marshal or Sheriff always add on their fees as well. Over time the original amount can balloon substantially. Selip and Stylianou also frequently levy consumer’s bank accounts and garnish wages to enforce on a judgment.

The simplest way to avoid having a judgment entered is to submit an answer with defenses. This keeps the burden on Selip and Stylianou and their client to prove that they are the rightful owner of the debt while challenging the amount owed as well. Debt-buyers like Midland Funding or Empire Portfolios can have trouble proving that they properly acquired this sort of debt. However, if a judgment is entered then it is imperative to file an order to show cause to vacate the judgment. This re-opens the case and gives the consumer the ability to defend themselves on the merits of the matter. Additionally, it give the consumer leverage to potentially negotiate a settlement for less than the full balance with Selip and Stylianou. This often makes sense especially in smaller debt matters as it eliminates the risk of losing in litigation and cuts down legal fees significantly. We have seen from experience that Selip and Stylianou have always been amenable to discussing settlement and give fair offers to do so.