Additional Information for Northwood Asset Management Group LLC

The following describes a government action that has been resolved by either a settlement or a decision by a court or administrative agency. If the matter is being appealed, it will be noted below.

BUFFALO – New York Attorney General Letitia James today announced she is shutting down an illegal debt collection scheme operating in western New York and recovering $1.2 million in penalties and restitution for victims. An agreement with Buffalo-based debt collector Andrew Fanelli and his companies — Northwood Asset Management Group LLC, Pinnacle Asset Recovery Group LLC, and Koalaty Pay LLC — permanently bans them from any future consumer debt collection. Collectors working for Fanelli’s companies routinely used illegal tactics to collect consumer debt, including false threats of criminal action, wage garnishment, driver’s license suspension, and lawsuits.

This agreement permanently bans Fanelli and his companies from engaging in consumer debt collection, consumer debt brokering, consumer lending, debt settlement, credit repair services, and payment processing. Within six months, Fanelli is required to dissolve all of his companies.

The agreement also requires Fanelli and his companies to pay $1.2 million to the OAG in restitution and penalties.

Any consumer who was the subject of false and illegal threats by Northwood Asset Management Group may be entitled to restitution and should promptly file a complaint with the OAG’s Buffalo Regional Office. For more details, go to the New York State Attorney General's press release.