By: Robert J. Nahoum Consumer credit defaults have been on the rise in recent years, and this trend is causing concern among economists and policymakers. When individuals are unable to pay their debts, it not only affects their financial well-being but also has a ripple effect on the larger economy. One of the primary reasons for the rise in consumer […]
Default in Consumer Debt is on the Rise in 2023
The Debt Hole on the Other Side of the Corona Economy
Working families are increasingly relying on credit cards to survive the corona-economy. The debt collectors are waiting on the other side.
- 15 U.S.C. §1692 et. seq.
- Debt
- debt collection
- Debt Collection Defense
- debt collector harassment
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NCLC Resource – Protecting Against Creditor Seizure of Stimulus Checks
The consumer heroes at the National Consumer Law Center have issued the following resource to help consumer protect their corona stimulus checks from levy and seizure by heartless and unscrupulous debt collectors: “The CARES Act authorizes payments up to $1200 to individuals and $2400 for couples, with an additional $500 for children under 17 years old. The payments phase out […]
Debt Collectors Must Tell NY Consumers if the Debt a Too Old to Collect
By: Robert J. Nahoum THE PROBLEM: You are surprised to be receiving phone calls and letters from a debt collector; you thought you cleared up all your bad debts years ago. How can they still be contacting you on such old debts? The Rule: In New York, a debt collector must maintain reasonable procedures for determining the statute of limitations […]