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New York to Shorten Time to Collect Consumer Credit Transactions

FFGN COLLECT NY

JUNE 30, 2021

Today, you have six years to collect monies owed from consumer credit transactions. However, a bill approved by the New York Senate seeks to shorten the time to collect consumer credit transactions to three years. Credit union loan. Credit cards. Retail installment debt. Personal bank loans.

Consumer Credit 40
Consumer Credit Collections Credit Unions Credit Unions 40
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New York Issues New Consumer Debt Collection Requirements for Creditors Pursuing Legal Action

FFGN COLLECT NY

JULY 20, 2021

After New York Governor Andrew Cuomo signs the Consumer Credit Fairness Act (S.153/Thomas) 153/Thomas) into law, many creditors will need to provide significant documentation in order to file a debt collection action against their non-paying consumers. We have the experience that pays.

Creditors 40
Creditors Collections Credit Unions Credit Unions 40
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