New York Gubernatorial Candidates Chime in on Debt Collection

Debt collection, and what should be done with abusive debt collectors, is one of the platforms gubernatorial candidates in New York are campaigning on this election season.

Democrat Eliot Spitzer has called for the state to strengthen penalties for threats, harassment and other outlawed tactics. “Consumer protection agencies need more weapons in their enforcement arsenal against debt collectors who use illegal and abusive practices,” a statement from his campaign office said.

While the Republican candidate, John Fasso, agrees that something?s gotta be done ? he?s hesitant to endorse expanding state power to do so. Increasing existing federal penalties and encouraging more industry watchdogs ?would be preferable to a whole new regime of state authority,” he told the Buffalo News.