{"id":7357,"date":"2024-12-12T21:32:38","date_gmt":"2024-12-13T02:32:38","guid":{"rendered":"https:\/\/senatedems.com\/irwin\/?p=7357"},"modified":"2024-12-17T11:11:55","modified_gmt":"2024-12-17T16:11:55","slug":"excessive-debt-collections","status":"publish","type":"post","link":"https:\/\/dev.senatedems.com\/irwin\/2024\/12\/12\/excessive-debt-collections\/","title":{"rendered":"Senate Passes Bills to Protect Family Homes, Wages and Taxpayer-Funded Benefits from Excessive Debt Collections"},"content":{"rendered":"

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Senate Bills 408 and 409 will keep families from being pushed into poverty as they pay what they owe
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<\/i>LANSING, Mich. (Dec. 12, 2024) \u2014 Today, the Michigan Senate passed Senate Bills 408<\/a><\/u><\/span> and 409<\/a><\/u><\/span>, which would provide reasonable exemptions to protect Michigan residents from being pushed into poverty or homelessness by debt collectors. The legislation, sponsored by Sens. Jeff Irwin<\/b> (D-Ann Arbor) and Mary Cavanagh<\/b> (D-Redford Twp.), would also protect publicly funded Earned Income Tax Credit (EITC) benefits from going directly into the pockets of debt collectors and enable families to protect a modest home in bankruptcy.<\/p>\n

\u201cIt simply doesn\u2019t make sense to allow debt collectors to seize benefits intended for vulnerable families, drain bank accounts to nothing, or take the family home or car,\u201d Sen. Irwin<\/b> said. \u201cI am so glad to see this legislation to protect Michigan families pass the Senate, and I am grateful to the consumer advocates, financial institutions, creditors, and other stakeholders who have worked with me for over two years to shape this legislation.\u201d<\/p>\n

\u201cThe main reason people seek bankruptcy protection is because they have been hit by unexpected financial hardship and are in danger of losing their home,\u201d Sen. Cavanagh<\/b> said. \u201cBut current home value exemption amounts aren\u2019t realistic and haven\u2019t been updated in over a decade, so current bankruptcy law doesn\u2019t even offer stability for families whose homes are valued well below the median home in Michigan. SB 409 will ensure that people do not lose their homes and left destitute when they fall on hard times by updating the homestead exemption amount to $125,000 and pegging it to the Housing Price Index so it stays current.\u201d<\/p>\n

The consumer debt protection legislation has support from a number of organizations including the Pew Trusts, Michigan Poverty Law Project, the Michigan Coalition Against Homelessness, the United Ways of Northwest and Southeastern Michigan, the Christian Coalition, and the Center for Civil Justice. Senate Bills 408 and 409 will go next to the Michigan House of Representatives. They must pass both chambers in identical form to make it to the governor\u2019s desk.<\/p>\n<\/div>\n

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Senate Bills 408 and 409 will keep families from being pushed into poverty as they pay what they owe LANSING, Mich. (Dec. 12, 2024) \u2014 Today, the Michigan Senate passed […]<\/p>\n","protected":false},"author":1,"featured_media":7358,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"on","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[5],"tags":[],"class_list":["post-7357","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-press-release"],"yoast_head":"\nSenate Passes Bills to Protect Family Homes, Wages and Taxpayer-Funded Benefits from Excessive Debt Collections - Senator Jeff Irwin<\/title>\n<meta name=\"description\" content=\"Senate Passes Bills to Protect Family Homes, Wages and Taxpayer-Funded Benefits from Excessive Debt Collections\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/dev.senatedems.com\/irwin\/2024\/12\/12\/excessive-debt-collections\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Senate Passes Bills to Protect Family Homes, Wages and Taxpayer-Funded Benefits from Excessive Debt Collections\" \/>\n<meta property=\"og:description\" content=\"Senate Passes Bills to Protect Family Homes, Wages and Taxpayer-Funded Benefits from Excessive Debt Collections\" \/>\n<meta property=\"og:url\" content=\"https:\/\/dev.senatedems.com\/irwin\/2024\/12\/12\/excessive-debt-collections\/\" \/>\n<meta property=\"og:site_name\" content=\"Senator Jeff Irwin\" \/>\n<meta property=\"article:published_time\" content=\"2024-12-13T02:32:38+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-12-17T16:11:55+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/dev.senatedems.com\/irwin\/wp-content\/uploads\/sites\/19\/2024\/12\/debt.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"2121\" \/>\n\t<meta property=\"og:image:height\" content=\"1414\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/dev.senatedems.com\/irwin\/2024\/12\/12\/excessive-debt-collections\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/dev.senatedems.com\/irwin\/2024\/12\/12\/excessive-debt-collections\/\"},\"author\":{\"name\":\"admin\",\"@id\":\"https:\/\/dev.senatedems.com\/irwin\/#\/schema\/person\/d70eb43c43b9d6128dac1bd664ee6466\"},\"headline\":\"Senate Passes Bills to Protect Family Homes, Wages and Taxpayer-Funded Benefits from Excessive Debt Collections\",\"datePublished\":\"2024-12-13T02:32:38+00:00\",\"dateModified\":\"2024-12-17T16:11:55+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/dev.senatedems.com\/irwin\/2024\/12\/12\/excessive-debt-collections\/\"},\"wordCount\":415,\"image\":{\"@id\":\"https:\/\/dev.senatedems.com\/irwin\/2024\/12\/12\/excessive-debt-collections\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/dev.senatedems.com\/irwin\/wp-content\/uploads\/sites\/19\/2024\/12\/debt.jpg\",\"articleSection\":[\"Press Release\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/dev.senatedems.com\/irwin\/2024\/12\/12\/excessive-debt-collections\/\",\"url\":\"https:\/\/dev.senatedems.com\/irwin\/2024\/12\/12\/excessive-debt-collections\/\",\"name\":\"Senate Passes Bills to Protect Family Homes, Wages and Taxpayer-Funded Benefits from Excessive Debt Collections - 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