Amendment Clarifies Requirement for Purchased Debts

gavelLast summer, Oregon Gov. Kate Brown signed H.B. 2356 into law. The legislation, enacted per the request of the state’s attorney general, required debt buyers to obtain a license from the Oregon Department of Consumer and Business Services (DCBS). This legislation also included procedural requirements for collection actions taken by debt buyers and debt collectors working on the debt buyer’s behalf. However, a small section of the statute (Oregon Revised Statute 646.639(2)(t)) caused some confusion as its wording appeared to indicate that all third-party debt collectors, as well as debt buyers and the debt collectors working for them, must supply the consumer with certain information within 30-days of a consumer’s request.

Click here for rest of article...