Legal Question in Credit and Debt Law in New York

Re: Debt Collector

I recommend you make an appointment with the better business bureau in your region. In addition, Legal Aid or Legal Services might be able to answer some questions.

As you noted, this question touches on debtor/creditor law. You are entitled to a 'homestead exemption' and there are issues relating to foreclosing on your primary residence.

Your point about attorney fees is a good one. This is strictly regulated by law. anything in excess of 150$ is suspect.

I don't understand the reference to the 'homeowners association'. you are welcome to include more information.

good luck.

Re: Debt Collector

Your fact history does not contain sufficient information for a complete answer. The protections afforded by the FFDCPA are mostly illusory. Recent decisions have allowed, for instance, law suits to be commenced concurrently with the issuance of a demand letter (assuming the demand letter contain the necessary "miranda" warnings required by the statute). You don't say what language was in the letter so it is impossible to set forth your rights...you have to provide the letter to an attorney who practices FFDCPA representation and see what he thinks.

Re: Debt Collector

Under the Fair Debt and Collection Practices Act a creditor may NOT threaten a lien upon or act to recover property if the creditor has no right to that property. However, this is determined by the terms of the original agreement between you and the creditor when you took the loan - if in the original agreement or original terms of the loan it states that the creditor may commence a lien upon property, then it is permitted for the creditor to threaten and or proceed with a foreclosure. As for the attorney fees, these are generally permitted to be included and the judicial determination you speak of will be determined when the foreclosure suit is decided upon. If you cannot pay the creditor at all right now you can always file a Chapter 13 or Chapter 7 Bankruptcy to stop the creditor from any action and either have the debt wiped out (Chapter 7) or if he does have the right to the property you can block the foreclosure with a Chapter 13 and repay the debt slowly over 3-5 years. Call me (212-745-1373)if you need further assistance.