Amends GS 58-70-5 to clarify that permits for operation as collection agencies are required for each physical location. Adds that the statute does not require a permit for a remote location from which employees work under the control and monitoring of a collection agency through telecommunications and computer links as long as specified conditions are met.

Amends GS 58-70-20 to reduce the amount of the bond required for an operating permit or permit renewal.

Amends GS 58-70-65 to provide that no refund for overpayment by a debtor in an amount less than $10 (was, less than $1) is required. 

Enacts new GS 58-70-86 to allow a collection agency to take an assignment of any claim from a creditor and sue on the claim as the real party in interest if specified conditions apply.

Enacts new GS 58-70-87 to allow a collection agency to charge a fee for processing a particular payment method or for initiating a payment method as long as specified conditions are met. 

Amends the definition of consumer in GS 58-70-90 to define the term as a natural person obligated or allegedly obligated to pay a debt (was, an individual, aggregation of individuals, corporation, company, association, or partnership that has incurred a debt or alleged debt).

Amends GS 58-70-115 to include as unfair practices collecting or attempting to collect from the consumer any amount unless it is expressly authorized by the agreement creating the debt or permitted by law.

Amends GS 58-70-130 to reduce the cap on penalties that may be imposed for violations by the collection agency. Amends the capon civil penalties. Requires an action alleging a violation of Part 3 to be commenced within one year after the cause of action arises.

Effective October 1, 2015.