Regulatory Alerts2014-11-06
FAQ Related to Guidance
The Idaho Department of Finance issued this guidance to clarify licensee obligations under the Idaho Collection Agency Act following the Supreme Court's Medical Recovery Services, LLC vs. Strawn decision. The document specifies that collection agencies must substantiate the legal basis for all charges, treating rental damages, overdraft fees, and government taxes as principal obligations while prohibiting the collection of late fees and attorney fees as incidental charges. Additionally, the guidance confirms that these interpretations apply to all licensed entities, including debt buyers, and that reasonable public agency collection fees remain collectible under statutory exceptions.
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