REGULATION OF COLLECTION PRACTICES (EXCERPT) Act 70 of 1981
445.251 Definitions.
Sec. 1.
As used in this act:
(a) “Claim” or “debt” means an obligation or alleged obligation for the payment of money or thing of value arising out of an expressed or implied agreement or contract for a purchase made primarily for personal, family, or household purposes.
(b) “Collection agency” means a person directly or indirectly engaged in soliciting a claim for collection or collecting or attempting to collect a claim owed or due or asserted to be owed or due another, or repossessing or attempting to repossess a thing of value owed or due or asserted to be owed or due another person, arising out of an expressed or implied agreement. Collection agency includes a person representing himself or herself as a collection or repossession agency or a person performing the activities of a collection agency, on behalf of another, which activities are regulated by Act No. 299 of the Public Acts of 1980, as amended, being sections 339.101 to 339.2601 of the Michigan Compiled Laws. Collection agency includes a person who furnishes or attempts to furnish a form or a written demand service represented to be a collection or repossession technique, device, or system to be used t o collect or repossess claims, if the form contains the name of a person other than the creditor in a manner indicating that a request or demand for payment is being made by a person other than the creditor even though the form directs the debtor to make payment directly to the creditor rather than to the other person whose name appears on the form. Collection agency includes a person who uses a fictitious name or the name of another in the collection or repossession of claims to convey to the debtor that a third person is collecting or repossessing or has been employed to collect or repossess the claim.
(c) “Communicate” means the conveying of information regarding a debt directly or indirectly to a person through any medium.
(d) “Consumer” or “debtor” means a natural person obligated or allegedly obligated to pay a debt.
(e) “Creditor” or “principal” means a person who offers or extends credit creating a debt or a person to whom a debt is owed or due or asserted to be owed or due. Creditor or principal does not include a person who receives an assignment or transfer or a debt solely for the purpose of facilitating collection of the debt for the assignor or transferor. In those instances, the assignor or transferor of the debt shall continue to be considered the creditor or the principal for purposes of this act.
(f) “Person” means an individual, sole proprietorship, partnership, association, or corporation.
(g) “Regulated person” means a person whose collection activities are confined and are directly related to the operation of a business other than that of a collection agency including the following:
(i) A regular employee when collecting accounts for 1 employer if the collection efforts are carried on in the name of the employer.
(ii) A state or federally chartered bank when collecting its own claim.
(iii) A trust company when collecting its own claim.
(iv) A state or federally chartered savings and loan association when collecting its own claim.
(v) A state or federally chartered credit union when collecting its own claim.
(vi) A licensee under Act No. 21 of the Public Acts of 1939, as amended, being sections 493.1 to 493.26 of the Michigan Compiled Laws.
(vii) A business licensed by the state under a regulatory act by which collection activity is regulated.
(viii) An abstract company doing an escrow business.
(ix) A licensed real estate broker or salesperson if the claim being handled by the broker or salesperson is related to or in connection with the broker or salesperson's real estate business.
(x) A public officer or a person acting under court order.
(xi) An attorney handling claims and collections on behalf of a client and in the attorney's own name.
REGULATION OF COLLECTION PRACTICES (EXCERPT) Act 70 of 1981
445.251 Definitions.
Sec. 1.
As used in this act:
(a) “Claim” or “debt” means an obligation or alleged obligation for the payment of money or thing of value arising out of an expressed or implied agreement or contract for a purchase made primarily for personal, family, or household purposes.
(b) “Collection agency” means a person directly or indirectly engaged in soliciting a claim for collection or collecting or attempting to collect a claim owed or due or asserted to be owed or due another, or repossessing or attempting to repossess a thing of value owed or due or asserted to be owed or due another person, arising out of an expressed or implied agreement. Collection agency includes a person representing himself or herself as a collection or repossession agency or a person performing the activities of a collection agency, on behalf of another, which activities are regulated by Act No. 299 of the Public Acts of 1980, as amended, being sections 339.101 to 339.2601 of the Michigan Compiled Laws. Collection agency includes a person who furnishes or attempts to furnish a form or a written demand service represented to be a collection or repossession technique, device, or system to be used t o collect or repossess claims, if the form contains the name of a person other than the creditor in a manner indicating that a request or demand for payment is being made by a person other than the creditor even though the form directs the debtor to make payment directly to the creditor rather than to the other person whose name appears on the form. Collection agency includes a person who uses a fictitious name or the name of another in the collection or repossession of claims to convey to the debtor that a third person is collecting or repossessing or has been employed to collect or repossess the claim.
(c) “Communicate” means the conveying of information regarding a debt directly or indirectly to a person through any medium.
(d) “Consumer” or “debtor” means a natural person obligated or allegedly obligated to pay a debt.
(e) “Creditor” or “principal” means a person who offers or extends credit creating a debt or a person to whom a debt is owed or due or asserted to be owed or due. Creditor or principal does not include a person who receives an assignment or transfer or a debt solely for the purpose of facilitating collection of the debt for the assignor or transferor. In those instances, the assignor or transferor of the debt shall continue to be considered the creditor or the principal for purposes of this act.
(f) “Person” means an individual, sole proprietorship, partnership, association, or corporation.
(g) “Regulated person” means a person whose collection activities are confined and are directly related to the operation of a business other than that of a collection agency including the following:
(i) A regular employee when collecting accounts for 1 employer if the collection efforts are carried on in the name of the employer.
(ii) A state or federally chartered bank when collecting its own claim.
(iii) A trust company when collecting its own claim.
(iv) A state or federally chartered savings and loan association when collecting its own claim.
(v) A state or federally chartered credit union when collecting its own claim.
(vi) A licensee under Act No. 21 of the Public Acts of 1939, as amended, being sections 493.1 to 493.26 of the Michigan Compiled Laws.
(vii) A business licensed by the state under a regulatory act by which collection activity is regulated.
(viii) An abstract company doing an escrow business.
(ix) A licensed real estate broker or salesperson if the claim being handled by the broker or salesperson is related to or in connection with the broker or salesperson's real estate business.
(x) A public officer or a person acting under court order.
(xi) An attorney handling claims and collections on behalf of a client and in the attorney's own name.
REGULATION OF COLLECTION PRACTICES (EXCERPT) Act 70 of 1981
445.251 Definitions.
Sec. 1.
As used in this act:
(a) “Claim” or “debt” means an obligation or alleged obligation for the payment of money or thing of value arising out of an expressed or implied agreement or contract for a purchase made primarily for personal, family, or household purposes.
(b) “Collection agency” means a person directly or indirectly engaged in soliciting a claim for collection or collecting or attempting to collect a claim owed or due or asserted to be owed or due another, or repossessing or attempting to repossess a thing of value owed or due or asserted to be owed or due another person, arising out of an expressed or implied agreement. Collection agency includes a person representing himself or herself as a collection or repossession agency or a person performing the activities of a collection agency, on behalf of another, which activities are regulated by Act No. 299 of the Public Acts of 1980, as amended, being sections 339.101 to 339.2601 of the Michigan Compiled Laws. Collection agency includes a person who furnishes or attempts to furnish a form or a written demand service represented to be a collection or repossession technique, device, or system to be used t o collect or repossess claims, if the form contains the name of a person other than the creditor in a manner indicating that a request or demand for payment is being made by a person other than the creditor even though the form directs the debtor to make payment directly to the creditor rather than to the other person whose name appears on the form. Collection agency includes a person who uses a fictitious name or the name of another in the collection or repossession of claims to convey to the debtor that a third person is collecting or repossessing or has been employed to collect or repossess the claim.
(c) “Communicate” means the conveying of information regarding a debt directly or indirectly to a person through any medium.
(d) “Consumer” or “debtor” means a natural person obligated or allegedly obligated to pay a debt.
(e) “Creditor” or “principal” means a person who offers or extends credit creating a debt or a person to whom a debt is owed or due or asserted to be owed or due. Creditor or principal does not include a person who receives an assignment or transfer or a debt solely for the purpose of facilitating collection of the debt for the assignor or transferor. In those instances, the assignor or transferor of the debt shall continue to be considered the creditor or the principal for purposes of this act.
(f) “Person” means an individual, sole proprietorship, partnership, association, or corporation.
(g) “Regulated person” means a person whose collection activities are confined and are directly related to the operation of a business other than that of a collection agency including the following:
(i) A regular employee when collecting accounts for 1 employer if the collection efforts are carried on in the name of the employer.
(ii) A state or federally chartered bank when collecting its own claim.
(iii) A trust company when collecting its own claim.
(iv) A state or federally chartered savings and loan association when collecting its own claim.
(v) A state or federally chartered credit union when collecting its own claim.
(vi) A licensee under Act No. 21 of the Public Acts of 1939, as amended, being sections 493.1 to 493.26 of the Michigan Compiled Laws.
(vii) A business licensed by the state under a regulatory act by which collection activity is regulated.
(viii) An abstract company doing an escrow business.
(ix) A licensed real estate broker or salesperson if the claim being handled by the broker or salesperson is related to or in connection with the broker or salesperson's real estate business.
(x) A public officer or a person acting under court order.
(xi) An attorney handling claims and collections on behalf of a client and in the attorney's own name.
