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]

Text: Latest bill text (Chaptered) [HTML]

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Voting Records

Chamber	Vote	Date	Yea	Nay	NV	Abs	Total	Result	Source	View
House	Concurrence in House	2012-05-28	113	0	2	0	115	Passed	Link	View
House	Concurrence in House	2012-05-28	113	0	2	0	115	Passed	Link	View
Senate	Third Reading in Senate	2012-05-25	56	0	3	0	59	Passed	Link	View
House	Third Reading in House	2012-03-23	103	0	3	4	110	Passed	Link	View

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