Bill > H2811

This bill aims to provide greater fairness and protections for consumers in the debt collection process. Key provisions include: 1. Exempting a portion of a debtor's weekly earnings from garnishment, limiting the amount that can be garnished from excess earnings, and protecting employers from taking adverse action against employees due to debt-related garnishments. 2. Establishing a 4-year statute of limitations for the collection of consumer debt, with some exceptions, and prohibiting the revival or extension of the limitations period through partial payments or other actions. 3. Requiring debtors to be given notice and the opportunity to submit a financial affidavit in supplementary proceedings, and prohibiting the imprisonment of debtors for failure to pay consumer debt. 4. Limiting the interest rate and attorney's fees that can be collected on judgments for consumer debt, and providing for the award of reasonable attorney's fees to a prevailing debtor. 5. Applying these protections retroactively to consumer debts where the cause of action accrued before the effective date of the law, with some exceptions.

Budget and Finance, Business and Industry, Labor and Employment

https://malegislature.gov/Bills/190/H2811