Summary: H.R.1059 — 105th Congress (1997-1998)All Information (Except Text)

There is one summary for H.R.1059. Bill summaries are authored by CRS.

Shown Here:
Introduced in House (03/13/1997)

Credit Cost Reduction Act of 1997 - Amends the Fair Debt Collection Practices Act to exempt from its coverage communications involving: (1) actions taken pursuant to either Federal or State Rules of Civil Procedure; or (2) a nonjudicial foreclosure.

Permits collection activities and communications to continue during the 30-day period following the initial notice of debt by the debt collector to the debtor.

Modifies civil liability guidelines with respect to: (1) class action awards; (2) attorney's fees to enforce civil liability; (3) plaintiff's attorney's fees; (4) disallowance of certain fees accruing after refusal of settlement offer; and (5) factors for court consideration in determining the amount of debt collector liability for noncompliance with such Act.