Bill > HR2704

This bill amends the Fair Debt Collection Practices Act to prohibit debt collectors from attempting to collect on a consumer's debt after the statute of limitations has expired. In legal terms, a statute of limitations is a law that sets a maximum time period after an event within which legal proceedings can be initiated. In the context of debt collection, this means that once a certain amount of time has passed since a debt was incurred, debt collectors are no longer legally allowed to pursue collection of that debt through the court system. The bill specifically adds a new section (§ 811A) to the existing law that explicitly states that debt collectors cannot collect or attempt to collect on time-barred debts. This provides additional consumer protection by preventing debt collectors from pursuing debts that are no longer legally enforceable through the courts. The bill is titled the "Fair Debt Collection Improvement Act" and would apply to all consumer debts where the statute of limitations has expired.

Business and Industry

https://www.congress.gov/bill/119th-congress/house-bill/2704/all-info