Bill > H1107

This bill proposes the Debt Collection Fairness Act, which aims to provide protections for consumers regarding the collection of consumer debt. Key provisions include: 1. Exempting a portion of a consumer's weekly earnings from garnishment to satisfy a judgment for a consumer debt, and limiting the maximum amount that can be garnished from excess earnings. Consumers can also seek additional hardship exemptions. 2. Establishing a 4-year statute of limitations for the collection of consumer debt, and prohibiting the revival or extension of this period through partial payments. 3. Requiring creditors to provide written notice to consumers before initiating supplementary proceedings, and prohibiting the issuance of warrants to compel consumer attendance without evidence of proper notice. 4. Capping the interest rate on judgments for consumer debt at 2% per annum, and limiting the recovery of attorney's fees. Prevailing consumers are also entitled to reasonable attorney's fees. The bill also clarifies that certain pension and child support income are exempt from collection for consumer debt. Violations of the Act's provisions are also considered violations of the state's consumer protection law.

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https://malegislature.gov/Bills/193/H1107