New York Super Lawyer for 4th Consecutive Year

Peter T. Roach is thrilled to have been named as Super Lawyer for the 4th consecutive year.

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Peter T. Roach has been named a New York metro area Super Lawyer for the fourth year in a row. Roach received this distinction in 2008, 2009, 2010 and 2011 for his real estate practice. 

Super Lawyers is a rating service of the top lawyers in the nation. Attorneys are chosen from more than seventy practice areas during a selection process that includes peer nominations, evaluations and independent research. Less than five percent of attorneys in a particular practice area achieve the honor of being named a Super Lawyer. 

Roach is the only real estate attorney in Syosset, New York to be named a Super Lawyer. Roach’s law firm, Peter T. Roach & Associates, P.C. focuses on real estate as well as debt collection and foreclosures. Roach graduated from SUNY Binghamton and St. John’s University School of Law. Roach has served as an adjunct professor of law at St. John’s since 1988. 

The Debt Collection Process

Typically, the first step a collection law firm takes to collect a debt is to send a demand letter to the debtor.  If the debtor is a natural person and the debt was incurred for a personal purpose, the demand letter must notify the debtor of their right to dispute the validity of the debt in order to comply with the Fair Debt Collection Practices Act.   The default letter advises the debtor that the collection law firm has been retained to collect the debt and notifies the debtor that he has thirty days to dispute the validity of the debt before a lawsuit will be commenced.  The Demand letter, identifying the sender as a law firm, is often very effective, especially if the debtor has sufficient assets to pay the debt and does not want to incur the cost of hiring an attorney or spend the time defending a lawsuit.

During the next thirty days, the collection law firm will regularly call the debtor seeking to collect the debt without resorting to litigation.  If the debtor does not respond within 30 days, the collection law firm prepares a summons and complaint, files it in the county which the debtor resides and has it served on the debtor.  Once the debtor has been served with a summons and complaint, he must either serve an Answer, or he will be held in default and the court will award a default judgment to the creditor consisting of the amount of the debt (principal and pre-suit interest), court costs and sometimes, attorney’s fees.  If an Answer is served, the collection law firm will either attempt to establish the validity of the debt at trial or submit a motion for summary judgment and try to show that no trial is needed since Defendant’s Answer failed to establish any genuine issues.

Whether following a trial, motion for summary judgment or default, the award of a judgment allows the creditor to seize the assets of the debtor and/or garnish the debtor’s wages.  Collection law firms, using state of the art proprietary software send restraining notices to many different banks instructing them to freeze the debtor’s bank account so it can then send the marshal or sheriff to seize any non-exempt funds.  The collection law firm will also serve income executions on the marshal or sheriff in the county where the debtor is employed to garnish the wages of the debtor until the debt has been entire judgment plus marshal or sheriff’s fees have paid in full.  Often times, to avoid embarrassment, the debtor will voluntarily repay the debt before his employer is served. 

In addition, the creditors can seize any other assets they can locate and, for larger debts, collection law firms may utilize the services of skip tracers and private investigators to locate them.  Once located, the collection law firm can have the marshal or sheriff seize the asset and liquidate it to satisfy the judgment amount.

Throughout the collection process, the collection law firm will call regularly, attempt to keep the lines of communication open and collect the debt voluntarily, often settling the lawsuit by entering into a written stipulation providing for the repayment of the debt.

For more information or to speak with one of our New York collection attorneys, call (800)824-0284.

Should I Hire a Broker to Sell My Home?

Many individuals selling their homes face the difficult decision of whether or not to hire a real estate broker in order to find a buyer. In order to make this decision intelligently , it is important to understand what the broker does and what the broker will charge for those services.

A real estate broker is responsible for finding a buyer that is ready, willing and able to purchase the home on terms and conditions acceptable to the seller.  The broker is the seller’s agent in the transaction and will help the seller determine the asking price of the home, suggest how to market the home, advertise the home, and show the home to prospective buyers.  The broker has sales experience, knowledge of the local real estate market, and the time to dedicate to selling the home.  The broker can also “share” the listing with other brokers, thus increasing the exposure to prospective purchasers.  This can expedite the sales process, reduce the time and energy that the seller would have to dedicate, and increase the likelihood of finding a buyer.

On the other hand, brokers earn substantial commissions.  Typically, real estate brokers charge commissions of between 4% and 7% of the sales price.  On higher priced homes, the broker may charge a smaller commission.  The terms of the broker’s agreement in the seller’s market are always negotiable and include the asking price, commission rate, date the agreement terminates, etc.  Sellers should negotiate the shortest term possible and renew the agreement for an additional term if they are satisfied with the broker’s services. 

Whether or not to hire a broker depends on all of these factors.  When considering selling your home it is always advisable to consult with one or more brokers and discuss the local real estate market as well as the terms of any agreement they may propose.   Regardless of whether you decide to actually hire the broker or sell the house yourself, you will find your local broker to be a valuable source of information.