Bill
S 6300
Bill S 6300 limits the time creditors can collect consumer credit debts, protecting consumers from harassment over old debts and ensuring fairer credit practices.
Bill Number: S 6300
Title: Relates to the expiration of right to collect consumer credit debt
Status: Referred to Judiciary
Introduced: March 10, 2025
Classification: Bill
Bill S 6300 aims to address the issue of consumer credit debt collection by establishing a clear expiration period for the right to collect such debts. The intent is to provide consumers with greater protection against outdated or uncollectible debts, thereby promoting fairness and transparency in the credit market.
Expiration Period: The bill proposes a specific time frame after which creditors would no longer have the legal right to collect on consumer credit debts. This period is intended to prevent the collection of debts that are significantly old and may not accurately reflect the consumer's current financial situation.
Consumer Rights: The legislation emphasizes consumer rights by ensuring that individuals are not pursued for debts that are beyond the established expiration period. This is aimed at reducing harassment and undue stress on consumers.
Notification Requirements: Creditors may be required to notify consumers about the expiration of their debt collection rights, ensuring that consumers are informed of their rights and the status of their debts.
Consumers: The primary beneficiaries of this bill are consumers who may be subject to collection efforts for old debts. By limiting the time frame for debt collection, consumers can have peace of mind regarding their financial obligations.
Creditors and Debt Collectors: This bill would impact creditors and debt collection agencies by restricting their ability to pursue older debts. They would need to adjust their practices to comply with the new regulations.
Current Status: As of March 10, 2025, the bill has been referred to the Judiciary Committee for further consideration. This is a preliminary step in the legislative process, where the bill will be reviewed, and potential amendments may be proposed.
Related Bills: Bill S 6300 is related to several prior-session bills, including:
These related bills may provide context or additional provisions that have been considered in previous legislative sessions regarding consumer credit debt.
Bill S 6300 represents a significant step towards reforming consumer credit debt collection practices. By establishing a clear expiration period for the right to collect debts, the bill seeks to enhance consumer protections and promote a fairer credit environment. As it moves through the legislative process, stakeholders will be closely monitoring its progress and potential implications for both consumers and creditors.
Compiled from official sources — confirm details with the bill’s official record.
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