Credit: Atstock Productions/Adobe Stock Appeals Court: Law Firm's Debt Collection Activities for Client Aren't Subject to Consumer Loan Law
"We hold that a law firm that prepares promissory notes or undertakes debt collection activity on behalf of a HOA client is not subject to the MCLL because it is not a 'lender' that is 'engaged in the business of making loans' under the provisions of the MCLL," Judge Brynja M. Booth wrote on behalf of the 7-1 majority. "Rather, a law firm is in the business of providing legal or debt collection services to its client."
August 15, 2022 at 03:43 PM
5 minute read
Creditors' and Debtors' Rights
Addressing a certified question from the U.S. District Court for the District of Maryland, a majority of the Maryland Court of Appeals held that a law firm that engages in debt collection activities on behalf of a client is not subject to the provisions of the Maryland Consumer Loan Law.
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