Thursday, May 10, 2012

UPDATE: Governor signs bill benefiting out-of-state debt collectors

STATE CAPITOL, PHOENIX – Yesterday Gov. Jan Brewer signed a bill into law that benefits out-of-state debt collectors. Rep. Debbie McCune Davis, D-Phoenix (District 14), is a vocal opponent of this law and warned of the economic harm HB 2664 will cause Arizonans.

“I am so disappointed that the governor signed this bill,” McCune Davis said. “Most states are tightening regulations on debt collectors. We should not be making it easier for this industry, which is rife with abuse, to victimize people.”

The new law empowers out-of-state debt collectors to force Arizona citizens to defend themselves against debts that were already paid, dismissed or forgiven. McCune Davis said the new law will jeopardize Arizona’s fragile economic recovery and hurt Arizona families.

“In Arizona, the number one complaint filed with the Federal Trade Commission is debt collection fraud, and identity theft complaints are the highest among those,” McCune Davis said. “The governor just made it easier for identity thieves to put our financial security in jeopardy.”

The law will go into effect on Aug. 2, 2012.

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