The Bureau of Consumer Financial Protection issued a new debt collection rule effective November 30, 2021. The final rule revises Regulation F, which implements the Fair Debt Collection Practices Act (12 CFR Part 1006). The new rule requires a validation notice which must include information like:
This notice is meant to help you identify whether you owe the debt and whether the collector’s information about the debt is accurate. The notice must include a “tear-off” form that you can send back to the debt collector to dispute the debt or take other actions.
The Fair Debt Collection Practices Act (FDCPA) prohibits debt collectors from repeatedly or continuously calling you with the intent to harass, oppress, or abuse you.
Under the Debt Collection Rule, collectors are presumed to violate the law if they place a telephone call to you about a particular debt:
These call frequency presumptions only apply to calls placed by the collector to you. They don’t apply to text messages, emails, and other types of media. Those media have other limitations.
Resources:
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