fair debt collection practice act
Date: Thu, 08/05/2010 - 13:55
A few laws did change...but really there was not a significant i
A few laws did change...but really there was not a significant impact.
* Amendment One: Clarifies that a formal pleading does not constitute an initial communication under the FDCPA and does not trigger the need for validation notice disclosures required by the Act.
* Amendment Two: Clarifies that certain notices and forms sent by debt collectors-as required by federal or state statutes, regulations or rules, but which do not request payment of a debt-are not deemed communications in connection with debt collection. This amendment addresses potential compliance conflicts that can trigger nuisance FDCPA lawsuits when an agency fulfills the privacy notice requirements of the Gramm-LeachBliley Act, provides a consumer with an Internal Revenue Code 1099-C form, or complies with data security breach notification laws and regulations.
* Amendment Three: Clarifies the debt collector's right to collect within the 30-day validation period. Although the FTC and the vast majority of courts have interpreted the Act to permit collection of undisputed debts during the first 30 days, a few misguided court decisions have unduly hampered legitimate collection and payment activities during this 30-day period.
