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DE HB230
Bill
Status
1/23/2014
Primary Sponsor
Helene Keeley
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AI Summary
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Creates the "Family Financial Protection Act" requiring consumer form contracts involving financial services to be signed in writing, with any contract changes requiring affirmative written consumer consent
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Prohibits forum selection and choice of law provisions in consumer contracts that would force Delaware residents to litigate disputes in other states or under other states' laws
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Requires debt collectors and debt buyers to possess documented proof of debt ownership, original creditor identity, itemized accounting of amounts owed, and signed contracts before attempting collection or filing lawsuits
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Establishes a 3-year statute of limitations for consumer debt collection actions and a 5-year limit on enforcing judgments, with provisions preventing debt collectors from seeking arrest warrants or imprisonment for unpaid consumer debts
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Updates property exemptions from creditors including $15,000 for motor vehicles, $152,000 homestead exemption, $10,000 in cash or bank accounts, and protections for earnings below 80 times minimum wage from garnishment
Legislative Description
An Act To Amend Title 6 Of The Delaware Code Relating To Consumer Protection.
Last Action
Introduced and Assigned to Economic Development/Banking/Insurance/Commerce Committee in House
1/23/2014