Fair Debt Collection Practices for Servicemembers Act

This bill prohibits debt collectors from threatening military consequences - such as rank reduction, security clearance revocation, or prosecution under military law - when collecting debts from active-duty service members, their dependents, or recently separated service members (within 365 days of separation). It directly affects servicemembers and their families by banning these specific harassment tactics under the Fair Debt Collection Practices Act. The bill also requires a GAO study to assess the law’s impact on delivering debt information to servicemembers, military readiness, and national security, particularly regarding security clearances. The law focuses on preventing abusive debt collection practices that exploit military status, with no financial or procedural changes beyond these restrictions.