New York recently enacted Senate Bill (SB) 153, the Consumer Credit Fairness Act, significantly impacting debt collection lawsuits filed by creditors or debt collectors. A few of the key amendments include: Most collection lawsuits arising out of a consumer credit transaction will now have a 3-year statute of limitations rather than 6 years. Extensions and … Read more
Question: Dear Steve, I cannot pay my student loans as my husband was hurt and now I have to pay everything and I cannot do it all. I was wondering about using the stature of limitation for student loans in NY state. I read on this and the stature of limitations is 6 years in … Read more
The State of New York has opened up a new student loan assistance program, “Get On Your Feet,” which I’m absolutely positive was created in an effort to help some people who are struggling with student loan payments. But as I sit here studying the initiative I’m left with a furrowed brow. I can see … Read more
“Dear Jon, I was living in London in 2004/2005 on a 2 year working holiday visa. I left to come back to South Africa and never closed my Natwest Account or cancelled my vodafone contract (the guy on the customer service line said I can just let the contract run out, it was for 18 … Read more
Over the years we have helped quite a few consumers in Rochester NY to resolve their debt issues. Rarely will a consumer seek our assistance hoping that we determine they should file for bankruptcy. Typically it is the opposite that is true. Consumers come to us seeking a solution that will allow them to avoid … Read more
Charges were announced last Thursday against seven members of an identity theft ring that allegedly used stolen identities of more than 180 people at major New York City retail stores including Home Depot, Sears, Kmart and Kohl’s, among others. The ring of fraudsters resold merchandise and gift cards for a profit after purchasing them under … Read more
Last Thursday it was announced that Laurentiu Ilian Bulat was arrested yesterday for allegedly participating in a fraud ring that stole at least $1.5 million from HSBC customer bank accounts by installing “skimming” devices on more than 40 ATMs in Manhattan, Long Island, and Westchester, New York. According to the Complaint since May 2011, the … Read more
An identity thief was sentenced earlier this month to 12 years in prison for managing and east coast credit card fraud ring. Jonathan Oliveras, used counterfeit credit cards encoded with stolen account information up and down the East Coast of the United States and has been sentenced for this crime. In addition to his 12 … Read more
Former owner and president of Allied Heath Care Services, Charles Schwartz, was sentenced last week to 195 months in prison (16.25 years) for organizing and executing a $135 million phony lease scheme that losses of more than $80 million and victimized over 50 financial institutions. In April Schwartz pleaded guilty to one count of mail … Read more
Last week a jury convicted two brothers in Chicago after running and operating a home-repair scheme that targeted elderly victims on the south and west sides of Chicago. At their trial six victims testified that they were swindled out of tens of thousands of dollars by fraudulently promising to perform expensive home repairs, convincing them … Read more
Andrew Hamilton Williams, Jr., was convicted last week in Maryland of fraud conspiracy, wire fraud and conspiracy to commit money laundering in connection to a massive mortgage fraud scheme. The scheme, entitled “Metro Dream Homes” promised to pay off homeowners’ mortgages on the homes of their dreams but instead left them high and dry. According … Read more
Attorney General Andrew M. Cuomo today announced that his office has won a lawsuit against a national debt settlement company, barring the company from doing business in New York state unless it posts a $500,000 performance bond to protect consumers. The decision also levies nearly $200,000 in penalties against the company for defrauding thousands of … Read more
Attorney General Andrew M. Cuomo today announced that his office has filed a lawsuit seeking to shut down a Buffalo-based debt collection operation consisting of 13 debt collection companies run by Buffalo residents Omar Smith, Narvell Benning and Keith Marshall (collectively, the “Benning-Smith Group”). Today’s announcement is the latest action in Attorney General Cuomo’s ongoing … Read more
Attorney General Andrew M. Cuomo announced that his office has shut down a New York collection operation that consisted of at least nine debt collection companies across Western New York, run by Buffalo resident Tobias Boyland. This is the latest action in Attorney General Cuomo’s ongoing investigation of unlawful debt collection practices. According to hundreds … Read more
Attorney General Andrew M. Cuomo announced his office is taking legal action against a leading New York foreclosure rescue company for charging illegal up-front fees and engaging in consumer fraud. The company targets homeowners facing foreclosure by claiming that it can save their homes, but often fails to provide the services promised. The Attorney General’s … Read more