Numbers Don’t Lie: The ARM Industry Keeps the Economy Moving

In response to steady attacks from legislators, rule makers, and others, the ARM industry is getting increasingly vocal about its positive effects on consumers and the economy. Recently, Oregon considered legislation that would have made it more challenging to collect post-judgment.  In response, ACA International (ACA) crunched the numbers; it demonstrated to Oregon lawmakers that the data showed the unintended negative economic consequences Oregonians would suffer should the proposed legislation become law. 

Oregon law permits garnishment with specific exemptions, including an exemption for disposable earnings. The proposed legislation would have increased Oregon’s weekly disposable earnings exemption from $254.00 to $1,000.00. ACA cautioned that before moving forward with the legislation, Oregon lawmakers should look at the long-term effects of the proposal on Oregon residents.

The ACA noted the following general points: