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| Authors | Hurtado | |||||||||||||||||||||||||||||||||
| Subject | Consumer debt: charged-off debts. | |||||||||||||||||||||||||||||||||
| Relating To | relating to consumer debt. | |||||||||||||||||||||||||||||||||
| Title | An act to add Section 1788.57 to the Civil Code, and to amend Section 337 of, and to add Section 337.3 to, the Code of Civil Procedure, relating to consumer debt. | |||||||||||||||||||||||||||||||||
| Last Action Dt | 2025-03-24 | |||||||||||||||||||||||||||||||||
| State | Amended Senate | |||||||||||||||||||||||||||||||||
| Status | Died | |||||||||||||||||||||||||||||||||
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| Analyses | TBD | |||||||||||||||||||||||||||||||||
| Latest Text | Bill Full Text | |||||||||||||||||||||||||||||||||
| Latest Text Digest |
Existing law places various requirements on, and prohibits certain actions by, debt buyers with respect to charged-off consumer debts. This bill would prohibit a charged-off consumer debt from being sold or assigned more than one year after the debt was charged off. The bill would require a charge-off creditor to notify the consumer when the creditor sells or assigned a charged-off consumer debt to a debt buyer. Existing law prescribes various time periods for the commencement of actions other than for the recovery of real property, including within 4 years for an action upon any contract, obligation, or liability founded upon an instrument in writing, as specified. This bill would prohibit an action from being brought to recover a charged-off consumer debt on or after the date that is the earliest of specified dates. The bill would prohibit a debt buyer from bringing an action to recover a charged-off consumer debt after one year from the date the debt was charged off. |