Endorsed by large and small debt buyer companies, SB 1430 is designed to create a level playing field that encourages competition among smaller, more ethical state firms and larger out-of-state debt buyers who often cut corners.
SB 1430 requires collectors to verify they have the correct consumer before initiating a collection action or litigation. It also prohibits the use of threatening or harassing language and techniques (such as numerous calls within a 24-hour period), and allow consumers to record collection calls — which currently is illegal in Oklahoma. Finally, and perhaps most importantly, the bill grants the attorney general power to prosecute violators.
Many seniors on fixed incomes are struggling to make ends meet. As a state, we cannot tolerate criminals who pose as legitimate businesses as they prey on vulnerable aging Oklahomans.
Lyons is president of AARP Oklahoma.