House Bill Proposes the Cessation of All Collections and Repossession Activities During Pandemic

plan would also bar negative credit reporting, debt collection and repossession of goods during the pandemic.

WASHINGTON (Reuters) – In the most recent bill being proposed by the influential Financial Services Committee, it is proposed that there be, upon enactment, a complete moratorium on all collections and repossession activities as well as all payments on mortgages, credit cards, small-business loans and all other consumer debt would be indefinitely suspended under a plan unveiled on Wednesday by a senior Democratic House lawmaker in response to the coronavirus outbreak.  

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House Bill Proposes the Cessation of All Collections and Repossession Activities During Pandemic – Credit Union Collections – Foreclosure – Repossess – Repossession