Section 5-1201 – Definitions

    (a)    In this subtitle the following words have the meanings indicated.     (b)    “Charge–off” means the act of a creditor that treats an account receivable or any other debt as a loss or an expense because payment is unlikely.     (c)    “Charge–off balance” means the amount due on the account or debt at the time of charge–off.     (d)    “Collector” means a […]

Section 5-1202 – Effect of Expiration of Statute of Limitations

    (a)    A creditor or a collector may not initiate a consumer debt collection action after the expiration of the statute of limitations applicable to the consumer debt collection action.     (b)    (1)    Notwithstanding any other provision of law, any payment toward, written or oral affirmation of, or any other activity on the debt that occurs after the expiration of […]

Section 5-1203 – Required Documentation for Debt Buyer or Collector

    (a)    A debt buyer or a collector acting on behalf of a debt buyer may not initiate a consumer debt collection action unless the debt buyer or collector possesses all of the documents listed in subsection (b)(3) of this section.     (b)    (1)    This subsection applies to a consumer debt collection action, including a small claim action under § […]

Section 5-1204 – Construction Not to Alter Licensing Requirements Applicable to Debt Buyers or Collectors

    This subtitle may not be construed to alter any licensing requirement under federal or Maryland law applicable to debt buyers or collectors.