This bill proposes an amendment to West Virginia's consumer credit protection laws, specifically targeting the collection of interest and other charges on debts. The key change allows debt collectors to collect interest or other charges if they are expressly authorized by either the agreement creating or modifying the obligation or by statute or regulation, rather than requiring both conditions to be met. This modification aims to streamline the process for debt collectors and clarify the conditions under which they can impose additional fees.

Additionally, the bill outlines various practices deemed unfair or unconscionable for debt collectors, including the collection of fees not authorized by the agreement or statute, and the communication restrictions with consumers who are represented by an attorney. It also emphasizes the need for clear disclosures when collecting debts that are beyond the statute of limitations, ensuring consumers are informed about their rights regarding old debts. Overall, the bill seeks to balance the interests of debt collectors with consumer protections in the realm of debt collection practices.

Statutes affected:
Introduced Version: 46A-2-128