AN ACT CONCERNING ISSUES RELATING TO DEBT COLLECTION.
To (1) require financial institutions to leave the lesser of the account balance or one thousand dollars in a judgment debtor's account during a bank execution; (2) increase the amount of the threshold of the aggregate cash price of a repossessed motor vehicle or boat for purposes of the formula for calculating the prima facie fair market value of such motor vehicle or boat; (3) eliminate extension options and establish a firm ten-year statute of limitations for the enforcement of small claims judgments; and (4) clarify that credit card charges for the purchase of goods and services are not to be considered moneys loaned for purposes of post-judgment interest.
Introduced by:Banking Committee
|New today||2-4 days old||5 days & older|
Add Notes to HB-5427
Co-sponsors for Amendment LCO:
|3/4/2020||Public Hearing 03/10|
|3/3/2020||Referred to Joint Committee on Banking|