Foster & Wolkind P.C.: Who They Are and What to Do If They Contact You About an MCA Balance
Foster & Wolkind, P.C. is a Manhattan creditors' rights law firm established in 1989 that represents financial institutions, equipment finance and leasing companies, debt buyers and, in its own words, merchant cash advance companies. It is not a funder and not a lender. The court record shows it appearing for PIRS Capital, LLC in a 2021 breach-of-contract suit on a Merchant Agreement, and as creditor's counsel for equipment lessors in bankruptcy cases. An earlier version of this page described Foster & Wolkind as an MCA funder and quoted factor rates for it. That was wrong and has been removed. If this firm is writing to you, a funder or lessor has retained it to collect, and the paperwork behind that account decides what happens next.
What Foster & Wolkind is
Foster & Wolkind, P.C. (foster-wolkind.com), 80 Fifth Avenue, Suite 1401, New York, NY 10011, phone (212) 691-2313, fax (212) 691-2459. The firm's site says it was established in 1989 and offers creditors' rights, commercial litigation, bankruptcy litigation, collection matters, equipment finance, secured transactions and construction law, on hourly, contingency and flat-fee arrangements. Under creditors' rights it lists representation of financial institutions, equipment finance and leasing companies, debt buyers, merchant cash advance companies and other commercial creditors and lenders, covering workouts, bankruptcy, collections, replevin, litigation, injunctions and judgment enforcement, with extensive knowledge of UCC Articles 2A and 9.
Its two named attorneys are Peter B. Foster (University of Pennsylvania 1980, Benjamin N. Cardozo School of Law 1983, admitted in New York in 1984, member of the Equipment Leasing and Finance Association) and Bryan E. Wolkind (Emory 1994, Cardozo 1997, New York and New Jersey bars, admitted in the Southern, Eastern and Northern Districts of New York). The Better Business Bureau has no profile for the firm as of September 24, 2026, so there is no rating, accreditation or complaint file to report.
What it is not: a funder, a lender or a merchant cash advance provider. There is no Foster & Wolkind advance, no factor rate and no reconciliation clause of its own. If our earlier page led you to expect any of those, disregard it.
Where it appears in the court record
- PIRS Capital, LLC v. Target Drilling, Inc. and Stephen Kravits. PIRS Capital, a merchant cash advance funder, sued a Pennsylvania drilling company and its guarantor in Supreme Court, New York County, on March 15, 2021 (index 651714/2021) for breach of a Merchant Agreement dated January 8, 2020. The defendants removed the case to the Southern District of New York (1:21-cv-05295) and invoked the agreement's arbitration clause; on July 6, 2021 the court entered a stipulation, signed by Bryan E. Wolkind of Foster & Wolkind as counsel for the plaintiff, staying the action so the claims could be arbitrated. The case was closed in January 2023.
- Bankruptcy appearances for lessors and funders. Peter B. Foster filed a notice of appearance for Alliance Funding Group, an equipment finance company, in the Chapter 11 case of Contemporary Management Services, LLC (Bankr. S.D.N.Y., 23-22459, July 2023). The firm's email addresses appear on creditor service lists in bankruptcy dockets in the Eastern, Southern and Western Districts of New York and elsewhere from 2019 to 2026.
- The firm's site links to leasecollect.com, a lease-collection service, and the Equipment Leasing and Finance Association, which is consistent with a practice built on equipment finance as much as on MCA work.
No regulatory action, disciplinary record or lawsuit against the firm itself was located in the sources checked.
Why a business owner hears from the firm
Because a creditor has placed the account with it for collection or suit. In MCA matters that creditor is the funder; in equipment matters it is the lessor or finance company. The firm is the creditor's counsel; the agreement, the payment history, the personal guaranty and any UCC filing belong to the creditor, and that paperwork decides what can be argued. The PIRS Capital case is a reminder that many merchant agreements carry an arbitration clause, which changes where and how the dispute is heard.
What to establish from your own paperwork
- Which creditor, which agreement and what balance. Ask in writing, at 80 Fifth Avenue, Suite 1401, New York, NY 10011, for the creditor's name, the agreement date, the amounts advanced or financed, every payment or debit credited and the balance claimed.
- Whether a suit has been filed, and where. Search NYSCEF for your business name and the guarantor's name. If a summons exists, the answer deadline runs from service, usually 20 or 30 days.
- Whether the agreement has an arbitration clause. If it does, either side can force the dispute out of court, as happened in the PIRS Capital case. Read the clause before answering a complaint.
- The reconciliation clause (MCA balances). If revenue fell and the funder refused or ignored a reconciliation request, that is the centre of most MCA disputes. Pull the clause and the request history.
- Whether the FDCPA applies. A merchant cash advance or equipment lease is a commercial transaction, so the federal Fair Debt Collection Practices Act generally does not apply. Attorney conduct rules and the general prohibitions on misrepresentation still do.
- Any UCC filing, replevin threat, confession of judgment or personal guaranty. On equipment accounts a replevin action can reach the equipment itself. See how MCA debt relief works.
If a lawsuit has been filed
The plaintiff will be the creditor, with the firm as counsel. Answer before the deadline; a default judgment ends the negotiation and opens judgment enforcement, which the firm lists as a service. See what to do if a creditor represented by Foster & Wolkind sues.
Can the balance be settled?
Usually, if the underlying account is real. Creditors that have retained counsel still settle within limits they set, and a documented revenue drop, bank statements and a realistic lump sum or schedule tend to be heard, before or after a suit is filed. See how a balance Foster & Wolkind is collecting can be settled.
Business Debt Adjusters reviews the agreement, the payment history and any filings, and tells you what is realistic before you commit to anything.
Frequently Asked Questions
Is Foster & Wolkind a merchant cash advance company?
No. Foster & Wolkind, P.C. is a New York creditors' rights law firm established in 1989 that represents lenders, equipment lessors, debt buyers and merchant cash advance companies. It appeared for PIRS Capital in a 2021 Merchant Agreement suit. It does not fund advances or loans.
Is Foster & Wolkind legitimate?
It is a New York professional corporation with a published Fifth Avenue address, two attorneys admitted in New York since 1984 and 1997, and appearances in state and federal court. The BBB has no profile for it. Legitimate does not mean the balance claimed is correct; ask for the creditor's name and an itemised account in writing.
Why is Foster & Wolkind contacting my business?
A funder, equipment lessor or other commercial creditor has retained it to collect on or sue over an account, usually with the owner's personal guaranty attached. Find out which creditor, which agreement and whether a suit has been filed before responding by phone.
Does the Fair Debt Collection Practices Act apply to a business account a law firm is collecting?
Generally no, because merchant cash advances and equipment leases are commercial transactions. Attorney conduct rules and the general prohibitions on misrepresentation still apply, and a personal guaranty can bring the owner's own protections into play.
What should a business owner do after a letter from Foster & Wolkind?
Identify the creditor and the agreement, request an itemised balance in writing, search NYSCEF for any filed case, check for an arbitration clause and a guaranty, and get the paperwork reviewed before agreeing to a number or missing an answer deadline.
Sources
- Foster & Wolkind, P.C. website (established 1989, practice areas including merchant cash advance companies, attorney biographies, contact details)
- PIRS Capital, LLC v. Target Drilling, Inc., S.D.N.Y. 1:21-cv-05295 (docket; stipulation and agreed order of July 6, 2021 signed by Bryan E. Wolkind, Foster & Wolkind, P.C., counsel for plaintiff)
- CourtListener docket search: Foster & Wolkind in federal bankruptcy dockets, 2019 to 2026 (including notice of appearance for Alliance Funding Group, Bankr. S.D.N.Y. 23-22459)
- BBB search: no profile for Foster & Wolkind (checked September 24, 2026)
Facts on this page were checked against the linked sources on September 24, 2026. Business Debt Adjusters is not affiliated with, endorsed by, or authorized to represent the company described.
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