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Tag: debt collection

Debt Collectors Will Soon Have More Leeway to Contact You Through Text, Email, and Social Media

Debt Collectors Will Soon Have More Leeway to Contact You Through Text, Email, and Social Media

The coronavirus (COVID-19) crisis has severely transformed everyone’s lives. Many have suffered a reduction in income or job loss altogether and are finding it difficult, if not impossible, to keep with mortgage payments, credit card bills, and other debts. If you default on payments for an unsecured debt, like a credit card, department store, or medical debt, the creditor might send the debt to a collection agency.  Debt collectors have a well-earned reputation for using aggressive tactics, like contacting debtors…

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New Protections for New Yorkers Against Debt Collection Abuses

New Protections for New Yorkers Against Debt Collection Abuses

The New York Department of Financial Services recently released new regulations that will better protect New Yorkers from the debt collection industry’s rampant abuses. Once the majority of the regulations go into effect on March 3, 2015 (a few of the regulations will begin in August), New York will have some of the strongest laws in the country when it comes to debt collection. The Scope of the Problem: Debt Collectors Gone Wild According to Governor Cuomo, in 2014 New…

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