Federal gov urging states to modify laws ato push back against debt collectors

[gacreditguy]

Take a look at this.. A long. but extremely interesting read.. Just came out last month and I saw it this morning and wanted to share with everyone.

Repairing A Broken System : Protecting Consumers in Debt Collection Litigation and Arbitration

It appears as though that the federal government is urging the states to modify their laws and start pushing back against debt collectors.

[WhatMoney]

Another good report among the dozens that have been issued from a variety of government agencies for the last three years. However nothing ever actually get done with these problems. I've been waiting for over 3 years for Federal government regulations protecting exempt bank deposits.

My state, Oregon, has finally this year passed new state laws exempting certain bank deposits from garnishment. And this includes wording that prevents a bank from charging any "legal fee" to the debtor for responding to the garnishment order if the funds are exempt. Whether the banks are actually following these new laws is another question. Usually they would rather ignore the law and force a tort lawsuit - something they know the average destitute debtor can never afford.

The most relevant statutes for OR are ORS 18.619 and ORS 18.790, passed and signed by the Governor in December 2009.