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Bill > S120

MA S120

Relative to fairness in debt collection

summary

Introduced
01/23/2017
In Committee
12/18/2017
Crossed Over
Passed
Dead
12/31/2018

Introduced Session

190th General Court

Bill Summary

For legislation relative to fairness in debt collection. Consumer Protection and Professional Licensure.

AI Summary

This bill aims to introduce the Debt Collection Fairness Act, which establishes several key provisions to protect consumers from unfair debt collection practices. The bill sets limits on the amount of a consumer's earnings that can be garnished to satisfy a judgment for a consumer debt. It also establishes a 4-year statute of limitations for the collection of consumer debts and prohibits imprisonment for failure to pay a consumer debt. Additionally, the bill caps the interest rate that can be charged on a judgment for a consumer debt and limits the amount of attorney's fees that can be collected. The bill also makes violations of these provisions a violation of the state's consumer protection law. The bill's provisions will not apply retroactively to consumer debts accrued before January 1, 2018.

Committee Categories

Budget and Finance, Business and Industry, Labor and Employment

Sponsors (20)

Last Action

Bill reported favorably by committee and referred to the committee on Senate Ways and Means (on 12/18/2017)
(19 Companion Bills)

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Document Type Source Location
State Bill Page https://malegislature.gov/Bills/190/S120
Bill https://malegislature.gov/Bills/190/S120.pdf
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