If enacted as law, all repossession, foreclosure and collections activities would be on hold in the state of California until one-hundred and eighty days (6 months) after the end of the Federal Crisis
Sacramento, CA – 3 June, 2020 – In a 12-5 vote count, the California State Assembly Appropriations Committee “rubber stamped” and passed AB 2501, the COVID-19: homeowner, tenant, and consumer relief Law of 2020”. This was it’s second step on its way to becoming law. If enacted as law, all repossession, foreclosure and collections activities would be on hold in the state of California until one-hundred and eighty days (6 months) after the end of the Federal Crisis and decimate the entire repossession and collections industry in the state of California for possibly years to come.
More Stories
Auto Lending Accelerates as Borrower Credit Quality Slips
After the Repo: When Does a Credit Union Finally Admit the Loss?
Auto Lending Is Moving Down the Credit Risk Ladder – Collections and Repo May Follow
Holmes Motors to Pay $137,000 Over Alleged Violations of Servicemembers’ Vehicle Lease Rights
Credit Unions Can Now Share More Fraud Intelligence Than Ever Before
Feds Charge 83-Year-Old Woman in Alleged $10 Million Auto Lending Ponzi Scheme