Loading chat...
ID S1319
Bill
Status
2/21/2018
Primary Sponsor
State Affairs Committee
Click for details
AI Summary
-
Amends Idaho Code Section 26-2229A to clarify when collection agencies may collect interest or incidental fees, charges, and expenses on debts.
-
Adds explicit authorization by the agreement creating the debt as a valid basis for collecting interest or incidental fees, alongside existing statutory authorization and court rulings.
-
Maintains existing requirements that collection agencies deal openly, fairly, and honestly, and must disclose any managerial or financial interests in creditor clients.
-
Retains provisions allowing collection of fees reasonably related to actual costs of processing electronic payments, provided the debtor preauthorized the method and received notice of alternative payment options.
-
Makes technical corrections to subsection lettering in the statute for organizational purposes.
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 expressly authorized by the agreement creating the debt.
DEBT COLLECTORS
Last Action
Reported Printed; referred to Judiciary & Rules
2/22/2018