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Buffalo-based debt collection businesses shut down by NYS Attorney General's office

The AG's office accuses the companies of making unlawful, false and deceptive threats to consumers to collect debts.
Credit: File Photo

BUFFALO, N.Y. — A Buffalo-based debt collector and his companies have been shut down by New York's Attorney General.

The office said it's reached an agreement with Andrew Fanelli and his companies permanently banning them from any future consumer debt collection.

The businesses, Northwood Asset Management Group LLC, Pinnacle Asset Recovery Group LLC and Koalaty Pay LLC are accused of making unlawful, false and deceptive threats to collect monies owed, including threats of criminal action, wage garnishment and lawsuits.

"New Yorkers can trust 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 collectors have used Buffalo as their hub of operations for illicit conduct for years, we are continuing to fight back and shut down these companies one by one. The unlawful behavior perpetrated by Andrew Fanelli and his companies defrauded consumers, but this agreement will end their illegal behavior, once and for all. I encourage anyone who may have fallen victim to these deceptive debt collectors to immediately file a claim with our office to recover what was stolen from them."

The agreement reached with the Attorney General's office also requires Fanelli to dissolve all of his companies within six months and to pay $1.2 million in restitution and penalties.

If you have been a consumer subjected to any of the above threats by Northwood Asset Management Group, you may be entitled to restitution and are encouraged to file a complaint with the OAG's Buffalo Regional Office.