Summary of the bill.
The bill proposes rules for extrajudicial collection of overdue debts, with limits on collection agencies’ contact with consumers. In the Republic of Panama, it limits the channels, hours and frequency of contact and establishes rights to information, privacy and respectful treatment, together with recordkeeping duties for collection agencies. It also assigns oversight and sanctioning functions to the Consumer Protection and Competition Defense Authority (Autoridad de Protección al Consumidor y Defensa de la Competencia).