Our client, a banker contacted us because she was alarmed to find out that there was a default judgment dating from 2004 against her. As a banker, any defaulted debt and especially a judgment can have a substantial negative impact that can lead to the loss of a license or job. In this case, the original creditor Wells Fargo sold the alleged debt to Metro Portfolios, Inc., whom hired Cohen & Slamowitz, now known as Selip & Stylianou to obtain a judgment against our client so they could collect the debt. As with most debt matters, our client was a victim of sewer service and was never served properly with the summons and complaint. She also stated that she never had an account with a Wells Fargo in the first place. Because of judgment interest which accrues at 9% annually in New York, this debt had accrued over the years to over $8,400 from about $2,200.
The client initially learned of this action because her job received a wage garnishment notice from the Marshal’s office. In this case it was imperative to vacate the judgment against our client so that it would no longer affect her at her job. We immediately contacted Selip & Stylianou to notify them that we would file to vacate the judgment and ask for this debt to be dismissed as we believed that Metro Portfolios would not be able to prove that they were the rightful owners of this debt and that they would not be able to properly link our client to this debt. Selip quickly decided to vacate the judgment against your client and offered a settlement of $500 to finalize the matter. This saved our client an enormous amount off of the entire debt and prevented her from having to incur additional legal costs.