If debt collection was not already exciting enough, effective January 1, 2022, debt collectors will now need to obtain licenses due to SB 908. A “debt collector” is defined in the Rosenthal Act, and includes anyone who, in the ordinary course of business, regularly collects a debt on behalf of themselves or another party. Collection of assessments is considered to be “debt collection,” and so self-managed associations and management companies will now need to obtain a debt collection license. Read the article……………………………………
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