Fair Debt Collection Practices for Servicemembers Act

This bill strengthens protections for active-duty military personnel and recent veterans against harassment by debt collectors. It prohibits collectors from threatening to reduce a service member's rank, revoke their security clearance, or prosecute them under military law for failing to pay debts. Additionally, the legislation bans collectors from implying that a service member will face these specific penalties if they do not cooperate with collection efforts. To evaluate the law's impact, the bill requires the Government Accountability Office to study how these new rules affect debt information delivery, military readiness, and national security.