30 May New York Attorney General Cuomo Goes After Debt Collectors
Bankruptcy is often preceded by harassment by creditors. In NY, the actions of the creditors is on the radar of the attorney general. Unfair and deceptive collection practices has become a concern of NYS Attorney General Andrew Cuomo. Cuomo has said he wants to halt harassing phone calls, frivolous lawsuit threats from collectors, and other practices which violate the law. His office has shut down one debt collection firm and has expanded a probe into twenty others.
According to Adrienne Carter from Business Week, Cuomo shut down two firms owned and operated by Lamont Cooper. Emanee Development, Inc., and Dial Tech LLC were closed by Cuomo who alleged that they violated the Fair Debt Collection Practices Act by threatening to arrest consumers and calling them criminals.
Cuomo plans to scrutinize collection practices, collector compensation and how debt firms deal with complaints, according to Carter. At a time when New York families are already struggling with unprecedented levels of debt, unscrupulous collection agencies add salt to an open wound, Cuomo said in a press release.
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