This bill amends the Fair Debt Collection Practices Act (FDCPA) to provide enhanced protections for servicemembers and their dependents against certain debt collection practices. It specifically defines "covered individuals" to include active duty servicemembers, their dependents, recently separated servicemembers within 365 days, and members of the Selected Reserve. The legislation establishes new prohibitions for debt collectors, making it illegal to threaten a covered individual with a reduction in rank , the revocation of a security clearance , or prosecution under the Uniform Code of Military Justice (UCMJ) in connection with debt collection. These threats are also explicitly added as unfair practices under the FDCPA. However, the bill clarifies that debt collectors can still provide accurate and lawful information about a debt, as long as it does not violate these new prohibitions. Finally, the bill mandates that the Comptroller General of the United States conduct a study and submit a report to Congress. This study will assess the Act's impact on the timely delivery of information to covered individuals, military readiness, and national security, including how uncollected debt might affect servicemembers with security clearances.