Full Text of HB5016 97th General Assembly
HB5016ham001 97TH GENERAL ASSEMBLY | Rep. Lou Lang Filed: 2/24/2012
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| 1 | | AMENDMENT TO HOUSE BILL 5016
| 2 | | AMENDMENT NO. ______. Amend House Bill 5016 by replacing | 3 | | everything after the enacting clause with the following:
| 4 | | "Section 5. The Collection Agency Act is amended by | 5 | | changing Section 2 and by adding Section 8.5 and 8.6 as | 6 | | follows:
| 7 | | (225 ILCS 425/2) (from Ch. 111, par. 2002)
| 8 | | (Section scheduled to be repealed on January 1, 2016)
| 9 | | Sec. 2. Definitions. In this Act:
| 10 | | "Charge-off date" means the date on which a receivable is | 11 | | treated as a loss or expense. | 12 | | "Consumer credit transaction" means a transaction between | 13 | | a natural person and another person in which property, service, | 14 | | or money is acquired on credit by that natural person from such | 15 | | other person primarily for personal, family, or household | 16 | | purposes. |
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| 1 | | "Consumer debt" or "consumer credit" means money, | 2 | | property, or their equivalent, due or owing or alleged to be | 3 | | due or owing from a natural person by reason of a consumer | 4 | | credit transaction. | 5 | | "Creditor" means a person who extends consumer credit to a | 6 | | debtor. | 7 | | "Debt" means money, property, or their equivalent which is | 8 | | due or owing or alleged to be due or owing from a natural | 9 | | person to another person. | 10 | | "Debt buyer" means any person engaging in, or holding | 11 | | itself out as engaging in, the business of purchasing accounts | 12 | | for value and acquiring all rights in and ownership of a debt. | 13 | | "Debt collection" means any act or practice in connection | 14 | | with the collection of consumer debts. | 15 | | "Debt collector", "collection agency", or "agency" means | 16 | | any person who, in the ordinary course of business, regularly, | 17 | | on behalf of himself or herself or others, engages in debt | 18 | | collection. | 19 | | "Debtor" means a natural person from whom a debt collector | 20 | | seeks to collect a consumer debt that is due and owing or | 21 | | alleged to be due and owing from such person. | 22 | | "Department" means Division of Professional Regulation | 23 | | within the Department of Financial and Professional | 24 | | Regulation. | 25 | | "Director" means the Director of the Division of | 26 | | Professional Regulation within the Department of Financial and |
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| 1 | | Professional Regulation. | 2 | | "Person" means a natural person, partnership, corporation, | 3 | | limited liability company, trust, estate, cooperative, | 4 | | association, or other similar entity.
| 5 | | "Principal balance" or "charge-off balance" means an | 6 | | account principal and other legally collectible costs, | 7 | | expenses, and interest that are accrued prior to the charge-off | 8 | | date, less any payments or settlement. | 9 | | (Source: P.A. 95-437, eff. 1-1-08.)
| 10 | | (225 ILCS 425/8.5 new) | 11 | | Sec. 8.5. Debt buyers. A debt buyer shall be subject to all | 12 | | of the terms, conditions, and requirements of this Act, except | 13 | | for subsection (b) of Section 8.6 of this Act. | 14 | | (225 ILCS 425/8.6 new) | 15 | | Sec. 8.6. Debt buyer activities. | 16 | | (a) The provisions of this Section 8.6 shall apply to debt | 17 | | buyers. If a debt buyer commences litigation against a debtor, | 18 | | then the debt buyer shall attach to the complaint an affidavit | 19 | | in substantially the following form: | 20 | | "[CAPTION OF COURT PROCEEDING] | 21 | | AFFIDAVIT OF ACCOUNT OWNERSHIP | 22 | | I,................, being first duly sworn upon my |
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| 1 | | oath, depose and state as follows: | 2 | | 1. I am an authorized agent of................., the | 3 | | plaintiff in this case and a debt buyer as defined in | 4 | | Section 2 of the Collection Agency Act ("debt buyer"). | 5 | | 2. I am authorized to execute this affidavit on behalf | 6 | | of the debt buyer, and I am over the age of 18 and | 7 | | competent to testify as to the matters contained herein. | 8 | | 3. In my capacity as an authorized agent of the debt | 9 | | buyer, I have access to the records maintained in the | 10 | | ordinary course of business of the debt buyer, including | 11 | | the records for and relating to the subject account. Those | 12 | | records include records acquired by the debt buyer at the | 13 | | time it purchased the account from the transferor, and | 14 | | records generated by the debt buyer relating to the account | 15 | | since the time it was purchased. I have reviewed or caused | 16 | | to be reviewed those records relating to the account, and I | 17 | | make this affidavit based upon that review and my own | 18 | | personal knowledge of how the records are kept and | 19 | | maintained. The account records generated by the debt buyer | 20 | | are made at or near the time of the event, by or from | 21 | | information transmitted by a person with knowledge of such | 22 | | information. It is the regular practice of the debt buyer | 23 | | to keep such records in the ordinary course of its | 24 | | regularly conducted business activity. | 25 | | 4. The debt buyer owns the account that is the subject |
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| 1 | | of the pending collection action. | 2 | | 5. On the date of the signature of this affidavit, this | 3 | | account was within the applicable statutory period of | 4 | | limitations. | 5 | | 6. The records of the debt buyer reflect that [debtor | 6 | | name(s)], defendant in this case, was issued credit by | 7 | | [creditor name], with an account number of [redacted | 8 | | original account number] and that [credit name], | 9 | | [charge-off date]. The last payment, if any, received on | 10 | | the debtor's account was on [last payment date]. There is a | 11 | | balance due and owing to the debt buyer on this account in | 12 | | the amount of [charge-off balance due] less any post | 13 | | charge-off credits, and the debt buyer has not received | 14 | | payment of that balance due. | 15 | | Further affiant sayeth naught. | 16 | | .............................. | 17 | | (Signature of Affiant) | 18 | | Print Name:................... | 19 | | Print Title:.................. | 20 | | Debt Buyer:................... | 21 | | SUBSCRIBED AND SWORN TO | 22 | | Before me, this.....day of .............,...... | 23 | | ............................................... | 24 | | Notary Public". |
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| 1 | | (b) With respect to its activities as a debt buyer in | 2 | | pursuing the collection of accounts it owns, a debt buyer shall | 3 | | be subject to all of the terms, conditions, and requirements of | 4 | | this Act, except that a debt buyer shall not be required to (i) | 5 | | file and maintain in force a surety bond under Section 8 of | 6 | | this Act; (ii) maintain a trust account under Section 8c of | 7 | | this Act; (iii) procure written authorization to refer the | 8 | | account to an attorney for suit under Section 8a-1 of this Act; | 9 | | or (iv) adhere to the assignment for collection criteria under | 10 | | Section 8b of this Act. | 11 | | (c) The Attorney General may enforce against debt buyers | 12 | | the provisions identified in Section 9.7 of this Act as an | 13 | | unlawful practice under the Consumer Fraud and Deceptive | 14 | | Business Practices Act.
| 15 | | Section 99. Effective date. This Act takes effect January | 16 | | 1, 2013.".
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