Weltman welcomes new Attorney Scott Best to the Philadelphia, Pennsylvania office, where he will practice in the Consumer Collections and Commercial Collections Practice Groups.
The New Jersey Appellate Division recently issued a decision in the matter of Woo-Padva v. Midland Funding, LLC A-1996-21 (BER L-3625-17), finding that there is not a private right to action under the New Jersey Consumer Finance Licensing Act (NJCFLA) for failure of a business to register under the NJCFLA.
When a debtor files for bankruptcy, they may have the ability to reduce the balance owed on secured loans, such as auto loan, based on the collateral's fair market value.