Who Selip & Stylianou is
Selip & Stylianou, LLP is a real, active creditors'-rights law firm -- a genuine business, not a scam or a phishing operation. It is headquartered in Woodbury, New York, with an additional office in Paramus, New Jersey, and it is a member of the National Creditors Bar Association. Its documented court activity is concentrated mainly in New York and New Jersey, where it handles high-volume consumer collection litigation. In plain terms, this is a law firm that files lawsuits against consumers to collect debts, so a letter or a summons bearing its name is something to take seriously rather than dismiss.
The firm collects unsecured credit-card accounts. Sometimes it represents the original creditor -- named clients have included major card issuers and banks -- and sometimes it collects for debt buyers, companies that purchase portfolios of charged-off accounts. Which of those is suing you matters, because it changes what you should demand before you engage. One important point up front: a legitimate collector is not the same thing as a valid, provable, currently-enforceable debt, so the firm being real does not relieve it of the burden to prove the account is yours.
The former-name angle: Cohen & Slamowitz
Selip & Stylianou, LLP is the same firm formerly known as "Cohen & Slamowitz, LLP." If you pull an old letter, a court filing, or a credit-report entry that names Cohen & Slamowitz, do not assume it is an unrelated party or an impostor -- it is the same firm under an earlier name. That said, name confusion is exactly where scammers thrive, so confirm the exact current name, "Selip & Stylianou, LLP," and the Woodbury, New York address printed on your letter. If a letter uses a slightly different name or a mismatched address, treat it with caution: that could be a DIFFERENT company -- confirm the exact name and the Woodbury, New York address on your letter before you send anyone money.
Why a summons is the #1 risk
Because Selip & Stylianou is a law firm, its main tool is the courthouse. The most serious thing that can happen is that you are served with a summons and complaint and do nothing. Ignoring a lawsuit does not make it disappear -- it usually hands the firm a default judgment, and a judgment is what unlocks wage garnishment or a bank levy. In New York, respond to the summons within the deadline stated on your papers by filing a written Answer. Filing that Answer preserves your defenses and forces the firm to actually prove its case. If you miss the deadline, review what happens after a default judgment so you understand what is at stake and whether the judgment can still be challenged.
Your FDCPA rights still apply
A common myth is that a law firm is somehow exempt from consumer-protection rules. It is not. An attorney or firm that regularly collects consumer debts is still a "debt collector" under the federal Fair Debt Collection Practices Act, which means you keep your validation and dispute rights. Within the 30-day window after the firm's first written contact, send a written request demanding validation of the debt -- see whether a debt validation letter works and what it should ask for. Make the firm identify the original creditor, the amount, and its authority to collect. If a debt buyer -- rather than your original card issuer -- is the plaintiff or owner, demand chain of title: documented proof that the buyer owns your specific account, since debt buyers often lack complete records. A well-known example is Midland Credit Management; when a buyer like that is behind the case, complete documentation is exactly what you should insist on.
If the debt is validated and really yours
Selip & Stylianou collects unsecured consumer credit-card debt, which is the kind of balance that can often be resolved for less than the full amount once it is validated and confirmed to be genuinely yours. If you decide to negotiate, only settle a debt you have confirmed you owe and that the firm can prove is enforceable, and always get the terms in writing before you pay anything. Keep in mind a tax wrinkle: when more than $600 of a balance is forgiven, the creditor may issue a 1099-C, and the canceled amount can be treated as taxable income. That does not mean you should avoid settling -- it just means you should plan for it.
Statute of limitations and red flags
Timing can be a defense. New York's statute-of-limitations clock on this kind of debt is relatively short, and a time-barred debt is a defense you can raise in your written Answer. Be careful, though: making a payment or signing a written promise to pay can restart the clock, so do not casually pay a little "to buy time" on an old account without understanding the consequences. Finally, watch for impostor and phishing red flags that a real law firm would never use: demands for gift cards, cryptocurrency, or a wire transfer, or threats of immediate arrest. Legitimate collection is handled through validation letters and the courts, not through gift-card codes or scare tactics -- if you see those, you are almost certainly dealing with a scammer, not with Selip & Stylianou.
This page is general information, not legal or tax advice. Your rights and timelines vary by state; consider consulting a qualified attorney, a nonprofit credit counselor, or legal aid.