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Bill > H205


MA H205

MA H205
Relative to debt collection licensure


summary

Introduced
01/22/2019
In Committee
01/22/2019
Crossed Over
Passed
Dead
12/31/2020

Introduced Session

191st General Court

Bill Summary

For legislation to further regulate debt collection licensure. Consumer Protection and Professional Licensure.

AI Summary

This bill, known as the "Debt Collection Licensure Parity Act," aims to further regulate debt collection practices in Massachusetts. It amends the definition of "debt collector" to include any person or entity that purchases charged-off debt for collection purposes, even if they do not directly collect the debt themselves. The bill requires all debt collectors, including those who purchase charged-off debt, to obtain a license from the state commissioner before engaging in debt collection activities. It also allows affiliated debt collection companies to be licensed under a single license, subject to a single examination. The bill will take effect on January 1, 2020 and will not impact any debt collection actions, civil suits, or judgments entered prior to that date.

Committee Categories

Labor and Employment

Sponsors (2)

Last Action

Accompanied a new draft, see H3949 (on 07/01/2019)

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