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HR 3402 113th Congress House Finance and Financial Sector Civil actions and liability Consumer affairs Consumer credit Debt collection

Fair Debt Collection Improvement Act

Introduced: October 30, 2013 Introduced by: Cohen, Steve Democratic · Tennessee See on congress.gov
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 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Oct 30, 2013
Referred to the House Committee on Financial Services.
Oct 30, 2013
Introduced in House
 Plain-English summary Congressional Research Service

Fair Debt Collection Improvement Act - Amends the Fair Debt Collection Practices Act to prohibit a debt collector from bringing, or threatening to bring, legal action against any consumer on a debt in which the statute of limitations has expired.

Requires a debt collector, in connection with the collection of debt in which the statute of limitations has expired, to disclose to the consumer that: (1) the debt has been transferred to the debt collector, (2) the creditor no longer holds the debt, (3) the debt collector may not bring legal action against the consumer to collect the debt because the statute of limitations has expired, and (4) any payment by the consumer towards the debt may cause the statute of limitations to reset.


What's happening now October 30, 2013

Referred to the House Committee on Financial Services.

 Committees of jurisdiction 1
 Cosponsors 2
All 2 Democratic 2