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Vermont committee weighs H.385 changes to help victims of coerced debt, debates whether to pause collections
Summary
The House Commerce & Economic Development Committee reviewed draft H.385 on coerced debt protections, debating documentation requirements, whether creditors must cease collections pending court review, bank-hold reporting, and how the bill would affect secured loans and repossession.
The Vermont House Committee on Commerce & Economic Development on Feb. 20 reviewed draft 1.12 of H.385, an act “relating to remedies and protections for victims of coerced debt,” and opened a contentious discussion over how much power creditors should keep while victims seek relief.
Maria Royal of Legislative Counsel walked lawmakers through the changes in draft 1.12, noting two substantive insertions from the version Judiciary recently reviewed: language on suspicious-transaction bank holds and one additional drafting change. “This draft has the bank holds language that you looked at,” Royal said as she summarized edits to definitions and evidentiary and certification requirements.
Advocates pushed the committee to preserve strong pro-victim protections. Grace Pazden, director of the consumer and…
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