How A Little Debt Can Lead To Big Problems
A woman allegedly stealing from an area lawyer an example of how debt can spiral out of control.
According to an article in the Daily Record, a Parsippany resident who went to prison in 2004 for allegedly stealing $35,900 from a Montville attorney was indicted earlier this year on charges of allegedly posing as her daughter to obtain credit cards.
Stephanie Yturbe was sentenced in 2004 to four years in state prison for allegedly stealing from her employer, a Montville attorney, and was released after serving about nine months.
She also has a conviction for stealing $3,220 in 2001 from an attorney she worked for in Morristown, according to court records. The charges allege that Yturbe in 2009 applied for as many as five credit cards, mostly via the Internet, using her daughter's personal identifiers. She allegedly obtained at least one credit card and ran up more than $500 in debt on it, the charges allege.
Today, there are more and more stories of individuals with debt problems and with that, more advertisements on how to get you out of debt. These services usually put people deeper in debt and in worse situations.
The most important advice anyone can give you regarding debt is to be knowledgeable about your particular situation and understand how the law treats individuals with debt. In debt, it is important to remember that there are two sides: the individual who is in debt and the individuals that monies are owed to.
As a result of the financial hardships associated with the state of today's economy, the number of people unable to make the payments for their debts increases daily. Unfortunately, the individuals who provide the services and goods to those people are left with no choice but to compel payments through the court system.
It must first be determined who will be named as the defendant, specifically who is responsible for the debt. The proper name of the individual or business must be utilized in order for the collection of the monies to be successful. The next step is to choose the correct court for filing the complaint.
New Jersey Court Rule 6:1-2 provides that a complaint should be filed in the New Jersey Supreme Court, Law Division, Special Civil Part if the amount in question exceeds $15,000 and in the small Claims Part if the amount is $3,000 or less.
If the amount exceeds $15,000, the complaint should be filed in the New Jersey Superior Court, Law Division. A matter in the Law Division is a more complicated process and involves many steps. Forms are available throughout the court system.
Many of these cases end in a judgment being made by the courts. When a judgment is obtained, there are numerous avenues of collection procedures. Steps can include obtaining a writ or order for the sheriff to garnish wages or freeze any known bank accounts to obtain payment for the debt due.
The sheriff can also secure goods, such as vehicles, equipment or personal property and sell them to satisfy the debt due. Every individual's finances are different. If ever in this situation, you should seek advice of a lawyer to determine the appropriate method to protect your interests. The most important advice anyone can give you is to never live beyond your means.