California SB 616 Passes, Making It Harder for Debt Collectors to Enforce Judgments
On September 10, 2019, California bill SB 616 was passed 48 to 23, making it more difficult for debt collectors to enforce judgments in the state.
Automatic exemption for bank levies
The bill, initially introduced February 2019 by Senator Bob Wieckowski (D-Fremont), creates an automatic exemption for the first $1,724 in a consumer’s bank account for bank levies. The result: collectors may have a harder time collecting on judgments.
RMAi, Encore and the California Collectors Associations expressed disappointment following their failed attempt to block CA SB 616 from passing. Encore stated they thought they had the numbers leading up to the vote.
The provisions of the bill shall go into effect September 1, 2020.
Recover more accounts, pre-legal
With an increasing number of proposed laws that favor consumers over creditors, it’s more important than ever to focus on ethical, amicable collection efforts.
At Cedar Financial, we believe communication is key to success. Our courteous, knowledgeable team of collectors is fair, but firm, using top negotiation techniques to find a fitting solution for your unresolved accounts.
To learn more about our Consumer Debt Collection services, visit https://cedarfinancial.com/consumer-debt-collection/ or contact us today.
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