Senate Sponsors: MADIGAN,R. House Sponsors: SAVIANO Short description: COLLECTION AGCY-REASONABLE FEE Synopsis of Bill as introduced: Amends the Collection Agency Act. Provides that certain agreements between a collection agency and a creditor to collect a debt shall be presumed prima facie reasonable. FISCAL NOTE (Dept. of Professional Regulation) There would be no measurable fiscal impact. GOVERNOR'S AMENDATORY VETO MESSAGE Recommends that the Department of Professional Regulation deter- mine what constitutes a reasonable collection fee (instead of pre- suming that a contingency or hourly arrangement established under an agreement between a collection agency and a creditor to collect a debt is prima facie reasonable). Recommends adding language that provides that if a contingency or hourly fee arrangement (i) is established under an agreement between a collection agency and a creditor to collect a debt and (ii) is paid by a debtor pursuant to a contract between the debtor and creditor, then the fee arrangement is not in violation unless the fee is unreasonable. Last action on Bill: BILL DEAD-AMENDATORY VETO Last action date: 99-12-02 Location: Senate Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 0 END OF INQUIRY Full Text Bill Status