Allows debt collectors to offer consumers the option to pay debts with postdated checks or similar instruments.
This bill permits debt collectors and creditors to offer consumers the option to pay debts or portions thereof using postdated checks, drafts, or similar instruments. The collector or creditor may negotiate these instruments before the due date. The bill emphasizes that this practice does not constitute an unfair or deceptive act or practice.
Included in complete analysis
- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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