New York: Great Pizza, Bagels… & Debt Collection Laws? (via Credit.com)
Personal financial challenges can be daunting. Struggling to pay bills is tasking enough, but when you throw in having to deal with aggressive debt collector calls, letters, even legal actions, it can become overwhelming, and often confusing. Federal and state laws regarding how debts can legitimately…
I like your take. Unfortunately legislators are generally poor at (or don’t think long term) predicting what the consequences of their actions are. They have the best intentions of fixing a problem, however as physics tells us every action has a reaction. Could this change result in fewer lawsuits ever year, probably in the long run. If there is 100k less lawsuits, that will be about about $25 million in less revenue. Obviously if there are less lawsuits, and less revenue the state we need less people. This is a state with many financial problems, it does not seem to make sense.
Interesting take on it.