A recurring problem for boards and managers of cooperative housing corporations and condominium associations, as well as their counsel, is collecting delinquent maintenance or common charge payments. However, given the heightened regulation of debt collection practices in recent years, doing so may present challenges.
In New York City, delinquency collection activities are subject to three levels of regulation: federal statutes, state regulations and the New York City Administrative Code. In 1977, Congress enacted the Fair Debt Collection Practices Act (FDCPA)1 in order to protect consumers from abusive tactics and practices that were then rife within the debt collection industry. Subsequently, the New York State Department of Financial Services adopted a number of requirements affecting debt collection, primarily focused on the activities of third-party debt collectors and debt buyers.2 At the city level, the Administrative Code imposes licensing requirements and establishes required practices for debt collectors.3
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