NY S08830

Amends the definition of "coerced debt" to specify debts incurred for personal, family, or household purposes through duress, intimidation, threat, force, coercion, manipulation, or undue influence within intimate relationships, family/household relationships, human trafficking situations, or caregiver relationships

Requires creditors to cease collection activities within 10 business days of receiving adequate documentation of coerced debt, complete a review within 30 business days, and provide written notice of their determination within 5 business days of completing the review

Creates a private right of action allowing creditors and/or debtors to sue individuals who cause others to incur coerced debt, recovering the debt amount plus costs and reasonable attorneys' fees, with a 3-year statute of limitations

Authorizes the Attorney General to seek injunctions against violations with 15 days notice and impose civil penalties up to $5,000 per violation, unless the creditor demonstrates the violation resulted from bona fide error

Extends the effective date from 90 days to 180 days after enactment and specifies the law applies only to debts incurred on or after the effective date