Please see below our written testimony in opposition of proposed AB2501 scheduled to go before the Appropriations Committee on Tuesday, June 2, 2020.
We urge you to carefully consider the long term impacts and perhaps unintended consequences of creating law where people immediately and indefinitely are allowed to not be held personally responsible for their actions and obligations. A strong economy is the backbone of our society and without means to ensure that California consumers have access to affordable financing opportunities – entire industries, California businesses, the California economy and California consumers will suffer. Please do not vote in favor any legislative action that ends efforts to collect consumer debt. We realize that debt collection is not a popular subject, and not likely to be talked about at dinner parties or on the golf course, but it is essential to the financial well-being of this country and the livelihoods of hundreds of thousands of Americans who work in the financial adjustment field depends on coming up with an equitable solution to debt collection ensuring personal financial responsibility and accountability.