An Act relative to fairness in debt collection
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed Senate
- Passed House
- To Governor
- Became Law
Overview
This bill, titled ‘An Act relative to fairness in debt collection,’ aims to establish stricter rules and protections for individuals facing debt collection. It seeks to limit certain debt collection practices, increase transparency for debtors, and provide more avenues for recourse against unfair or abusive collection tactics. The bill intends to ensure that debt collection activities are conducted in a more ethical and consumer-friendly manner within Massachusetts.
Key provisions
- Limits on debt collection communications, restricting calls and texts to specific times.
- Requires debt collectors to provide debtors with detailed information about the debt.
- Prohibits debt collectors from using misleading or deceptive practices.
- Establishes a process for debtors to dispute inaccurate debt information.
- Increases transparency by requiring debt collectors to register with the state.
- Provides for enhanced penalties for violations of debt collection regulations.
- Addresses the collection of debts on behalf of third parties.
Who is affected
- Debtors
- Debt collection agencies
- Consumers in Massachusetts
- Financial institutions
Notable changes
- The bill introduces specific time restrictions for debt collection communications.
- It mandates detailed disclosure requirements for debt collectors.
Bill text
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Sponsors
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3 on record
Cosponsors
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