New York AG settles with major debt buyer over collection lawsuits
New York Attorney General Eric T. Schneiderman has announced a settlement with a publicly traded debt buyer that the AG said was prompted by the ARM firm's practice of "bringing improper debt collection actions against hundreds of New York consumers" specifically on debts that were time-barred under state law. Under the settlement, Asta Funding Inc. will move to vacate more than 300 improperly obtained judgments totaling more than $1.7 million.
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