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ID H0180
Bill
Status
2/27/2017
Primary Sponsor
Judiciary, Rules and Administration Committee
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AI Summary
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Amends Idaho Code Section 26-2229A to clarify that collection agencies may collect interest or incidental fees, charges, and expenses if expressly authorized by the agreement creating the debt.
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Establishes five conditions under which collection agencies may legally collect interest or incidental fees: statutory authorization, express authorization in the debt agreement, court ruling allowance, judicial determination, or written agreements signed by both debtor and licensee with director approval.
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Allows collection of reasonable costs associated with processing demand drafts or electronic payments if the debtor has preauthorized the payment method and been notified in advance of potential alternative payment methods without additional charges.
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Makes technical corrections to existing prohibited practices language regarding collection agencies, including clarifications about governmental form usage, trade names, misappropriation of funds, and false or misleading statements.
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Applies requirements to collection agency licensees, persons required to be licensed under the act, and their agents in dealing fairly and honestly in business activities.
Legislative Description
Amends existing law to provide that a collection agency licensee, a collection agency or its agent or a creditor citizen may collect interest or incidental fees, charges or expenses if they are expressly authorized by the agreement creating the debt.
DEBT COLLECTORS
Last Action
Introduced, read first time; referred to: Judiciary & Rules
2/28/2017