Restrictive North Carolina Debt Collection Laws About to Change?
National Service Bureau
JULY 21, 2015
In 2009, the North Carolina legislature passed Senate Bill (SB) 974, which governed the requirements surrounding debt collection and asset buying in the state. At the time (and still), many in the industry viewed this bill as highly restrictive. For instance, the law broadened the definition of collection agencies and debt collectors, increased civil penalties (minimum of $500, max of $4000 per violation), and restricted the ability of collectors and debt buyers to file suit against a consumer.
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