Credit Cost Reduction Act of 1997

Summary

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.

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Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 13 March 1997

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• Introduced in House (PDF)

  Introduced in House · EN · 13 March 1997

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• Introduced in House

  summary · EN · 13 March 1997

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