New York S08830 establishes a right of action against those who cause others to incur coerced debts.

New York S08830 amends the general business law to address actions for claims arising out of coerced debts. It limits certain actions and establishes a right of action against individuals who cause others to incur coerced debts. A creditor must cease collection activities upon receiving adequate documentation of coerced debt and the debtor's statement. The bill also outlines the process for debtors to dispute coerced debts and provides relief for those who prevail in such disputes.

New York S08830 establishes a right of action against those who cause others to incur coerced debts.

New York S08830 amends the general business law to address actions for claims arising out of coerced debts. It limits certain actions and establishes a right of action against individuals who cause others to incur coerced debts. A creditor must cease collection activities upon receiving adequate documentation of coerced debt and the debtor's statement. The bill also outlines the process for debtors to dispute coerced debts and provides relief for those who prevail in such disputes.