Massachusetts H4316 aims to ensure fairness in debt collection by limiting interest rates, protecting wages, and setting time limits for debt.

Massachusetts H4316, the Debt Collection Fairness Act, introduces several measures to protect consumers from unfair debt collection practices. It limits interest rates on judgments for consumer debt to 3% per annum for judgments entered after January 1, 2026. The act also exempts a portion of a consumer's wages from garnishment to satisfy a consumer debt judgment, ensuring that at least 90% of the debtor's gross weekly wages or 65 times the federal or state minimum hourly wage, whichever is greater, remains exempt.

Massachusetts H4316 aims to ensure fairness in debt collection by limiting interest rates, protecting wages, and setting time limits for debt.

Massachusetts H4316, the Debt Collection Fairness Act, introduces several measures to protect consumers from unfair debt collection practices. It limits interest rates on judgments for consumer debt to 3% per annum for judgments entered after January 1, 2026. The act also exempts a portion of a consumer's wages from garnishment to satisfy a consumer debt judgment, ensuring that at least 90% of the debtor's gross weekly wages or 65 times the federal or state minimum hourly wage, whichever is greater, remains exempt.