Arizona Gov. Jan Brewer Signs Bill To Help Debt Collectors [View all]
Phoenix Business Journal by Mike Sunnucks, Senior Reporter
Date: Monday, May 14, 2012, 4:32pm MST
Arizona Gov. Jan Brewer has approved legislation making it easier for debt collectors to go after defaulting consumers and small businesses.
Brewer signed House Bill 2664 into law today. The measure allows collection agencies to use final billing statements as a basis to show amounts owed and interest rates as they seek court judgments and wage garnishments.
The bill was favored by debt collectors, which buy delinquent accounts from banks and credit card companies for pennies on the dollar, but receive only minimal information from those sources. It can be difficult and expensive for the collection companies to get additional information on the defaulting consumers and business owners.