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Status barred4/3/2023 ![]() Consumers have rights and my office is committed to protecting them.” I urge any New Yorker who feels that they have been a victim of improper debt collection to contact my office. My office has reached out to all the major debt collectors in the state and the largest credit card companies to ensure that they comply with the new laws starting on day one without excuses. These new regulations will give us stronger tools to protect the most vulnerable New Yorkers from predatory debt collectors. “Abusive debt collection practices of the past hurt low- and moderate-income New Yorkers the most and buried them deeper into financial struggles. “For too long, debt collectors used unfair and abusive tactics to improperly collect debts,” said Attorney General James. Attorney General James’ letter makes it clear that her office stands ready to enforce these regulations to protect vulnerable New Yorkers. The new state regulations come on the heels of similar nationwide regulations from the Consumer Financial Protection Bureau that came into effect late last year. The Consumer Credit Fairness Act of 2021 - which was signed into law last November - will go into effect next month and reduces the statute of limitations for consumer debt collection from six years to three years. NEW YORK – New York Attorney General Letitia James sent letters to the largest credit card companies and major debt collectors operating in New York, warning them of new state regulations that prevent them from suing consumers for old debts. Of Improper Debt Collection Practices to File a Complaint With OAG Reduce Statute of Limitations on Debt Collectors From Six Years to Three YearsĪG James Urges Consumers Who Believe They Are Victims ![]() New State Consumer Debt Protection Laws Go into Effect in April,
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