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Real Estate & Property Law

: The Home Equity Theft Reporter

NYC Lawmakers Move To Toughen Regs On Debt Scavengers Buying Up, Filing Lawsuits To Collect "Zombie Debt"

By r morris

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In New York City, the New York Post reports:The city moved yesterday to toughen regulations against collection agencies, 17 months after a study found debt-ridden New Yorkers are losing judgments worth $800 million each year because they're not showing up for court hearings. Councilman Dan Garodnick (D-Manhattan) said unscrupulous agencies are gobbling up consumer debts for pennies on the dollar

Full post as published by The Home Equity Theft Reporter on February 28, 2009 (boomark / email).

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