Bill Title: Amends the Collection Agency Act. Defines "charge-off date", "collection agency" or "agency", "debt buyer", and "principal balance" or "charge-off balance". Provides that if a debt buyer commences litigation against a debtor, then the debt buyer shall attach to the complaint an affidavit. Provides that a debt buyer shall be subject to all of the terms, conditions, and requirements of the Act, except that a debt buyer shall not be required to (i) file and maintain in force a surety bond; (ii) maintain a trust account; (iii) procure written authorization to refer the account to an attorney for suit; or (iv) adhere to the assignment for collection criteria. Provides that the Attorney General may enforce against debt buyers specified provisions under the Act as an unlawful practice under the Consumer Fraud and Deceptive Business Practices Act. Effective immediately.

Spectrum: Bipartisan Bill

Status: (Passed) 2012-08-24 - Public Act . . . . . . . . . 97-1070 [HB5016 Detail]

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Bill Drafts

Revision	Date	Format	Source	View
Chaptered	2012-08-24	HTML/Text	Link	View
Enrolled	2012-05-29	HTML/Text	Link	View
Amended	2012-05-02	HTML/Text	Link	View
Amended	2012-04-23	HTML/Text	Link	View
Engrossed	2012-03-22	HTML/Text	Link	View
Amended	2012-03-16	HTML/Text	Link	View
Amended	2012-03-14	HTML/Text	Link	View
Amended	2012-02-24	HTML/Text	Link	View
Introduced	2012-02-07	HTML/Text	Link	View

Amendments

Amendment	Date	Disposition	Format	Source	View
No bill amendments currently on file for Illinois HB5016

Supplemental Documents

Title	Description	Date	Format	Source	View
No supplemental documents for Illinois HB5016 currently on file.

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