Bill Summaries: H541 (2015-2016 Session)

Tracking:
  • Summary date: Apr 29 2015 - View summary

    House committee substitute makes the following changes to the 1st edition:

    Amends GS 58-70-35 concerning applications and permits to operate as a collection agency, raising the nonrefundable application fee to $1,250 from $1,000.


  • Summary date: Apr 6 2015 - View summary

    Amends North Carolina’s unfair debt collection practices provisions, GS 58-70-115, to require (1) an itemized accounting for debts that have been charged off, including a list of all fees and interest and (2) notice to the debtor if the debt that is being collected is time-barred. Notice for time-barred debts must include the statement that the creditor will not sue the debtor and, if the debt is past the obsolescence date created by the federal Fair Credit Reporting Act, 15 U.S.C. 1681(c), the statement that the creditor will not report the debt to any credit reporting agency. Amends the prerequisites to entering a default or summary judgment against a debtor mandated by GS 58-70-155 to include additional items relating to post charge-off payments, credits, fees, and interest. Effective October 1, 2015.