Bill > H328

This bill, the "Debt Collection Licensure Parity Act," amends the definition of "debt collector" in Massachusetts law to include a broader range of entities involved in the collection of debt. It requires that any person or business engaging in debt collection activities in the Commonwealth, including the purchase of charged-off debt for collection purposes, obtain a license from the state commissioner. The bill also allows affiliated companies to be covered under a single license and provides an exemption from the licensing requirement for certain entities that purchase charged-off debt as an investment and only contract with licensed debt collectors or attorneys. Additionally, the bill specifies that the act will not affect the validity of any collection actions, civil actions, or judgments entered prior to its effective date, which is 120 days after passage.

Budget and Finance, Labor and Employment

https://malegislature.gov/Bills/192/H328