NC S471

Allows collection agencies to operate remote work locations without requiring separate permits, provided records are maintained at a permitted physical location and the remote site is not open to the public.

Reduces bond requirements for collection agencies from $10,000 to $5,000 for initial permits and from a maximum of $75,000 to $20,000 for renewal permits.

Permits collection agencies to take written assignment of claims from creditors and sue as the real party in interest, with requirements for written assignment, no prohibition in original agreement, and written notice to debtor at least 30 days before filing suit.

Authorizes collection agencies to charge convenience fees up to $15 or 5% of payment (whichever is less) for certain payment methods, with advance consumer notification and disclosure of fee details.

Modifies civil liability penalties from $500-$4,000 per violation to $500-$1,000 per individual action, and establishes a one-year statute of limitations for actions alleging violations of collection agency laws.