This week the Alabama Senate Banking and Insurance Committee held over SB 29 which stopped the bill’s ability to be voted upon in 2015. This bill would have imposed a significant hardship on debt buying companies which among other things would have required data and documentation requirements that not even originators could have complied with, extinguished the debt beyond the statute of limitations, imposed onerous requirements for admissibility of evidence at trial, and increased real and personal property exemptions.
