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On August 26, 2025, Georgia made significant strides in protecting the rights of debtors and creditors through the introduction of new legislation aimed at creating a fair and transparent process for debt collection.The new legislation, known as the Debtors and Creditors Rights Act, comes in response to the increasing number of disputes and complaints from both parties involved in debt collection efforts. The Act sets out clear guidelines for debtors and creditors to follow, ensuring that all parties are treated fairly and in accordance with the law.One of the key provisions of the Act is the establishment of a Debtors' Bill of Rights, which outlines the rights of debtors in the debt collection process. This includes the right to dispute a debt, the right to receive accurate and complete information about the debt, and the right to be treated respectfully and without harassment by creditors.On the other hand, creditors are also granted certain rights under the Act, such as the right to pursue legal action against debtors who fail to repay their debts and the right to request information and documentation to support their claims.In addition to the Debtors' Bill of Rights, the Act also establishes a Debtors and Creditors Dispute Resolution Committee, which will be responsible for mediating disputes between debtors and creditors and ensuring that all parties are given a fair chance to resolve their issues amicably.Overall, the new legislation represents a significant step forward in protecting the rights of debtors and creditors in Georgia. By establishing clear guidelines and procedures for debt collection, the Act aims to create a more transparent and fair process for all parties involved.