The office of the AG accuses the company of illegal, false and deceptive threats against consumers to collect claims.
BUFFALO, NY – A Buffalo-based debt collector and his businesses have been shut down by the New York Attorney General.
The bureau said it had an agreement with Andrew Fanelli and his companies prohibiting them from permanent bans on future consumer collections.
Northwood Asset Management Group LLC, Pinnacle Asset Recovery Group LLC and Koalaty Pay LLC are alleged to have made unlawful, false and fraudulent threats to recover owed funds, including threats of criminal action, garnishment of wages and lawsuits.
“New Yorkers can be confident that I will always stand up for our most vulnerable, especially when their wallets are at risk,” said Attorney General Letitia James.
“While illegal debt collection companies have used Buffalo as a hub for illegal behavior for years, we continue to fight back and close those companies one by one. The illegal behavior of Andrew Fanelli and his companies has defrauded consumers, but this agreement will end their illegal behavior once and for all . I encourage anyone who has fallen victim to these fraudulent debt collection agencies to file a claim with our office immediately to recover what has been stolen. “
The agreement reached with the Attorney General also required Fanelli to liquidate all of its businesses within six months and pay $ 1.2 million in reimbursements and fines.
As a consumer, if you have faced any of the above threats from Northwood Asset Management Group, you may be eligible for a refund and are encouraged to file a complaint with the OAG’s Buffalo Regional Office.
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