The Fair Debt Collection Practices Act requires a debt collector to provide the consumer with a written notice.What information must be contained in this notice?
A) The amount of the debt,with interest and penalties clearly delineated
B) The name of the current creditor and former creditor
C) A statement informing the consumer that he can request verification of the alleged debt
D) A copy of the original credit contract with the original creditor

Question

Quizplus · Accepted Answer

The Fair Debt Collection Practices Act requires the debt collector to provide a written notice to the consumer within five days of their initial contact. This notice must include the amount of the debt, the name of the creditor, and a statement informing the consumer that they have the right to dispute or request verification of the debt. Option A is incorrect because while the amount of the debt must be included, interest and penalties may not be applied yet. Option B is not required, although it may be helpful for the consumer to know. Option D is not required either.

The Fair Debt Collection Practices Act Requires a Debt Collector