What the debt buyer bill would do

February 10, 2010 at 2:50AM

• Require debt buyers to document that a person owes a debt before pursuing legal action and verify that the debt is not beyond the statute of limitations.

• Require debt buyers to provide an itemized accounting of all amounts owed and how they were computed, as well as the name of the original creditor.

• Impose fines of as much as $2,500 per violation, and give consumers the right to sue for damages.

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