TAMU Law Professor Neil Sobol testified in support of Texas House Bill 996 before the Texas House Committee on pensions, investments and financial services late March in Austin.
According to Sobol, the bill is aimed at reducing the abuses associated with the collection of time-barred debts by debt buyers. Under current law, a payment or acknowledgement of a time-barred debt can re-start the limitations clock creating an enforceable “zombie debt.” House Bill 996 would prevent the creation of zombie debts and would require debt buyers to provide notice when collecting on time-barred debts.
One of the bill’s sponsors is Texas House Member Nicole Collier from Fort Worth. She is also a Texas Wesleyan Law graduate, now Texas A&M School of Law. Professor Sobol spent several hours with Representative Collier and staff responding to objections, drafting language for a substitute bill and working on her presentation of the bill.