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Last month, the New York unemployment rate went up to 14.5%, taking it to its highest level since the Great Depression. According to the New York State Department of Labor (DOL), it was the biggest monthly drop in employment numbers on record. Nationally, the April unemployment rate was 14.7% (compared to 4.1% in March), mostly…

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Many consumers have heard of the Fair Debt Collection Practices Act, which protected them from abusive, unfair, and unconscionable treatment by third-party debt collectors. What may not be as well-known is that individual states have their own debt collection laws, some of which extend greater protection to residents. The New York debt collection regulations were…

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When you’re burdened by debt and unable to make the minimum payments on your student loans and credit cards you’re probably going to hear from a credit collector or a third-party debt collector. Although dealing with both types can seem like the same frustrating experience to you, the truth is that the law has different…

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When you file for bankruptcy in New York, all of your listed creditors are provided with a notice of your filing. They also receive notification of your discharge once you successfully complete all of your bankruptcy obligations. There are, however, occasions when debt collectors will attempt to collect a debt that was included in your…

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Although it sounds like the title from a bad movie, zombie debt is a real problem for modern consumers. It refers to a financial obligation that has been charged off or otherwise removed from a creditor’s books because the lender could not afford to pay it or could not be located. The majority of creditors…

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The Fair Debt Collection Practices Act (FDCPA) is a consumer protection law that restricts what third party debt collectors can say and do while attempting to collect a debt. If a collection agency conducts itself in a way that violates an indebted consumer’s rights, that consumer can file a lawsuit against the company within one…

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When you are officially discharged from Chapter 7 or Chapter 13 bankruptcy in New York, you have every right to assume that you’ve gotten a fresh start financially. Therefore, it can come as a shock when a debt collector calls -again and again- about a debt that was included in your bankruptcy filing. With few…

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Once you file for bankruptcy in New York, a special provision known as the automatic stay kicks in to protect you from recurring bill collectors and creditors. This stops any lawsuits filed against you by collection agencies, government entities or creditors that are looking for money from you. It is a powerful tool that can…

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Sometimes creditors sell debt to debt collection agencies or investors for pennies on the dollar. They usually sell “bad debt.” An example of bad debt is credit card debt that is long overdue. Investors will hire agencies to collect on the debt. The Fair Debt Collection Practices Act (FDPCA) is a federal law that governs…

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We are offering 10% off legal fees for customers starting a bankruptcy between December 15, 2014 and January 31, 2015. A personal bankruptcy can eliminate many of your debts allowing you to get a fresh financial slate. Call 718-514-6619 to learn more and set up a free in-person consultation with attorney Jayson Lutzky who has…

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A homeowner sought to sue a home loan servicing company, BAC, as well as a co-defendant, alleging that they violated three sections of the Fair Debt Collections Practice Act (FDCPA) according to the October 7, 2014 issue of the New York Law Journal. The FDCPA is a federal law that governs what debt collectors may…

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One woman defaulted on her mortgage in 2003. Seven years later, in 2010, she agreed to modify the loan in a loan modification agreement. She was to begin paying the loan servicer in March 2010 according to an April 23, 2014 New York Law Journal article. However, in 2007, the debtor started a bankruptcy, which…

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When a bankruptcy petition is filed, what is known as an “automatic stay” is put in place on the debtor’s bankruptcy estate. A bankruptcy estate is the grouping of a person’s assets that they are put in their bankruptcy filing. The automatic stay prevents creditors from collecting on debts covered under the estate. This is…

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