Schafer and Weiner Settle Collection Action

May, 2019

John Stockdale, Jr. and Nicholas Marcus represented a married couple in difficult collection litigation involving breach of a promise to pay under a mortgage covenant where the statute of limitation had run on the underlying promissory note.  Making the litigation even more difficult was a default judgment entered against one of the defendants prior to Schafer and Weiner’s retention.  Despite the difficult posture, Schafer and Weiner resolved the matter for only 39% of the outstanding debt (exclusive of charges for attorneys’ fees).