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