New York Attorney General Cracking Down On Debt Collectors

In one example of the on-going efforts by New York Attorney General, Andrew M. Cuomo to go after fraudulent debt collectors, the AG has sued attorney John, P. Nicolia for selling the use of his name to a debt collection firms who then, in his name, threatened to sue consumers across the United States.

The investigation determined that although Nicolia had received $141,000 in fees from the debt collection firm, Eastern Asset Management, there was no evidence that any legal services were provided. Eastern Asset Management only used Nicolia’s name and the name of Nicolia’s law firm to intimidate people into paying. 

While the New York Attorney General is to be commended for taking action against abusive debt collectors, this type of governmental action occurs only rarely and is certainly not enough to discourage debt collectors from resorting to illegal tactics.

I’ll close this article by reminding anyone who receives any sort of legal threats from a collection agency to not be intimidated and to never settle based on such threats. The amount demanded is usually far in excess of what you actually may owe, and very often, these threats have no legal basis.  At the very least, before you pay a dime, make the collection agency prove up what they say you owe and make them prove that you owe THEM.

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