Revises the definition of "collection agency," for purposes of the collection agency act, to include a person or entity engaged in the business of purchasing delinquent or charged off claims for collection purposes, whether it collects the claims itself or hires a third party for collection or an attorney for litigation in order to collect such claims.

Prohibits a licensee and employee of a licensee, under the collection agency act, from performing an act constituting the unauthorized practice of law.