Survivors of violence could see debt erased as N.Y. law goes into effect
Summary
New York has started a new law that helps survivors of domestic violence erase debt they were forced to take on by abusers. This law aims to relieve financial burdens that survivors face, such as bad credit, which can make it hard to find housing or work. The law protects victims but includes limits to prevent misuse.Key Facts
- A new law in New York helps survivors of domestic violence, elder abuse, and human trafficking erase coerced debt.
- This law took effect recently and makes New York the eighth state to offer this type of relief.
- Many survivors have debts up to $20,000 forced on them, which can hurt their credit and personal safety.
- Juliette, a survivor, had $7,000 in debt on a credit card she never used, which damaged her credit score and housing options.
- Banks previously required survivors and abusers to meet in person to close accounts, which posed safety risks.
- The law was changed after banks raised concerns to limit potential abuse of the relief program.
- The Center for Survivor Agency and Justice says that coerced debt affects survivors’ access to housing, jobs, and transportation.
- The law aims to help survivors regain financial stability and move forward without unfair debt tied to abuse.
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