Important Coronavirus Legislative Update from Timothy Wan, CLLA President
The CLLA hopes you, your loved ones, and co-workers, are safe and healthy in these unprecedented times.
The CLLA has been monitoring and opposing all proposed legislation to make sure that small businesses, which include many of our members, are not financially ruined by legislation with unintended consequences. We have charged our lobbyist to spread our message to Capitol Hill. We have also been in constant communication with National Creditors Bar Association, Commercial Collection Agencies of America, and International Association of Commercial Collectors, in order to coordinate our efforts to oppose the legislation.
The “CARES Act”, S.3548, is silent with regard to debt collection as a whole. It does create limitations on foreclosures, credit reporting, evictions, and governmental student loans. However, there are bills circulating in Congress, such as H.R. 6370, and S.3565, which attempt to put a total moratorium on debt collection, regardless of whether the customer has the ability to pay, or even has been impacted by any national emergency.
On March 20, 2020, the CLLA took action to protect our members and sent a letter to the President and Congressional leaders advocating for our members, with regard to H.R. 6370. Currently, the Board of Governors is working on proposing common sense legislation with regard to S.3565, that is compassionate, but protects the credit industry. We hope to circulate this legislation next week. We encourage you to also take action by writing to your legislators to help ensure that our members are able to continue their business operations, and reach out to your contacts, clients, and business relations to help spread this message.
If you need help, please reach out to anyone on the Board of Governors or our Executive Vice President. We are here for you and we care. A link to the Department of Labor’s March 24th Q&A can be found here: https://www.dol.gov/agencies/whd/pandemic/ffcra-questions (Note that the DOL is announcing that the new law goes into effect April 1, not April 2.)We will also be trying to put some information together for those of you who need help obtaining a SBA loan.
Welcome to the Commercial Law League of America
The Commercial Law League of America (“CLLA”) is a trusted legal network of commercial law attorneys and collection agencies . Membership is comprised of experts in credit and finance actively litigating in the field of commercial law, bankruptcy and insolvency. The CLLA is a leader in providing networking, legal, educational and professional services to business and credit communities.
Membership is comprised of commercial law professionals specializing in collections law, bankruptcy, insolvency, retail collections, construction law, and complex commercial litigation matters. From emerging law professionals to law clerks and judges, membership also includes collection agency members, law list publishers and commercial credit professionals.
CLLA provides an online Membership Business Directory that provides a direct link and location to Commercial Lawyers, Commercial Collection Agencies, Law List Professionals, Paralegals and collections services near you.