From AP RALEIGH, N.C. – North Carolina consumers soon will have new protections from foreclosures and intimidating debt collection practices.
Gov. Beverly Perdue planned Wednesday to sign into law a bill approved by the Legislature last month and backed by Attorney General Roy Cooper.
The Consumer Economic Protection Act allows a clerk of court to continue a foreclosure hearing for up to 60 days. The delay would give a homeowner more time to work out a payment plan with the mortgage holder or service so the debtor can remain in the home.
The bill also sets out new rules for companies that attempt to collect from consumers on old unpaid debts from credit cards or other unpaid bills. Cooper has said some debt buyers have gone too far in browbeating people to collect money.
September 9th, 2009 at 3:04 pm
Where are the Teeth in this bill? Please read it closely – the lenders do not care so few will work out anything UNTIL you stop paying your mortgage – strike those of you who ARE paying your mortgage at any cost (goodbye 401K) as strange? What about the Banks who have upped their APR’s above 25% – after WE bailed them out?
Please Madame Governor, stop wasting time and energy coddling the banks – at least scold them, or wave a finger at them, or raise your voice. Stand up and Speak Out!