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- Suing someone who owes me money
- Hi, we will be glad to assist and to help you with your case, kindly call or chat on WhatsApp with me at: 0806-809-5282 or send email to: sksolicitors.ng@gmail.com and please visit our website at: www.sk-solicitorsng.com to read more about our legal services.Thank you and best regards,Kingsley Izimah, Esq.SK Solicitors
About Debt & Collection Law in New Jersey, United States
Debt and collection law in New Jersey governs the ways debts are collected from individuals and businesses. These laws are designed to ensure that both creditors and debtors are treated fairly. Creditors may be businesses, financial institutions, or individuals who are owed money, while debtors are those who owe a financial obligation. New Jersey follows both federal regulations, such as the Fair Debt Collection Practices Act (FDCPA), and specific state laws that provide additional protections and requirements for handling debts and collections.
Why You May Need a Lawyer
There are many situations where legal help may be needed in matters related to debt and collection in New Jersey. Here are some common scenarios:
- You are being harassed by debt collectors or are unsure if their actions are legal.
- You have received a lawsuit or court summons regarding unpaid debts.
- You want to negotiate or settle your debts for a lower amount.
- Your wages are being garnished or your bank account has been frozen due to a debt judgment.
- You believe you do not owe the debt or there are errors in the amount claimed by the creditor.
- You are considering bankruptcy as a way to address overwhelming debt.
- You wish to understand your rights or protect your assets from collection activities.
A knowledgeable attorney can help you understand your legal options, defend you in court, negotiate with collectors, or ensure that your rights are not being violated.
Local Laws Overview
New Jersey has specific laws and regulations pertaining to debt collection in addition to federal protections. Key aspects include:
- Statute of Limitations: In New Jersey, the statute of limitations is generally six years for most consumer debts. This means a creditor has six years to file a lawsuit from the date of the last payment or acknowledgment of debt.
- Debt Collection Licensing: Collection agencies working in New Jersey must obtain appropriate state licensing.
- Wage Garnishment Limitations: New Jersey limits the amount that can be garnished from wages - typically the lesser of 10 percent of gross salary or 25 percent of disposable income.
- Collection Practices: New Jersey enforcement agencies monitor harassment, fraudulent claims, and improper communication times by collectors.
- Judgment Collection: Creditors who secure a court judgment may use methods such as wage garnishment, bank account levies, or liens on property to collect what is owed, subject to legal limitations and exemptions.
- Exemptions: Certain assets, such as a portion of wages and specific personal property, are protected from collection under state law.
Frequently Asked Questions
What debts are covered under New Jersey and federal debt collection laws?
Most personal, family, and household debts are covered, including credit card bills, auto loans, mortgages, utility bills, and medical debts.
Can a debt collector contact me at work or at odd hours?
Debt collectors may not call you at inconvenient times, such as before 8 a.m. or after 9 p.m., unless you agree. They also cannot contact you at work if your employer prohibits it or if you ask them in writing to stop.
What should I do if I am sued for a debt in New Jersey?
Do not ignore the lawsuit. Respond to the court summons, and consider consulting a lawyer to defend your interests. Ignoring it may result in a default judgment against you.
Is there a time limit for a creditor to sue me for unpaid debt?
Yes. In New Jersey, the creditor generally has six years to file a lawsuit from the last payment or acknowledgment of the debt.
Can a debt collector add extra charges to my debt?
Debt collectors may only add fees, interest, or other charges if allowed under your original agreement or by law.
What are my rights if a debt collector violates the law?
You may have the right to sue the collector for damages, report the violation to regulatory agencies, and use the violation as a defense in collection proceedings.
Can a debt collector take money from my bank account in New Jersey?
A collector cannot garnish your bank account unless they have obtained a court judgment against you. Even then, certain types of income and assets may be exempt from garnishment.
What property can be protected against collection in New Jersey?
New Jersey law exempts a certain amount of your wages and specific personal property, such as tools of your trade or some household goods, from collection activities.
How do I stop debt collector harassment?
You can request, in writing, that the collector cease communication. If harassment continues, you may file complaints with state and federal authorities or seek legal action.
Can I negotiate with creditors or collectors for a reduced payment?
Yes, creditors and collectors often accept settlements for less than the full amount owed. Document any agreements in writing and keep records of the negotiations.
Additional Resources
If you need more information or help, these resources can be useful:
- New Jersey Division of Consumer Affairs - Oversees collection agencies and consumer complaints.
- Legal Services of New Jersey - Offers free or low-cost legal aid for qualifying individuals.
- Federal Trade Commission (FTC) - Provides guidance on debt collection practices and how to submit complaints.
- National Foundation for Credit Counseling - Offers credit counseling and debt management advice.
- Consumer Financial Protection Bureau (CFPB) - Publishes consumer resources and complaint mechanisms regarding debt collection.
Next Steps
If you are facing debt collection issues in New Jersey, consider taking the following steps:
- Document all communication with creditors and debt collectors, including dates, times, and content.
- Review your financial situation and gather all relevant paperwork, such as account statements and original contracts.
- Contact a qualified New Jersey attorney specializing in debt and collection law if you have received a lawsuit, are being harassed, or are unsure about your rights.
- Consult reputable local resources, such as consumer protection agencies or legal aid organizations, for advice and potential representation.
- Act promptly, especially if you have received legal papers or a court summons, to protect your rights and explore possible solutions.
Understanding your rights and responsibilities under New Jersey debt and collection law can help protect your financial well-being and ensure fair treatment throughout the collection process.
Disclaimer:
The information provided on this page is for general informational purposes only and does not constitute legal advice. While we strive to ensure the accuracy and relevance of the content, legal information may change over time, and interpretations of the law can vary. You should always consult with a qualified legal professional for advice specific to your situation. We disclaim all liability for actions taken or not taken based on the content of this page. If you believe any information is incorrect or outdated, please contact us, and we will review and update it where appropriate.