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Monthly archives: September, 2014
Massachusetts Division of Banks clarifies that a written request from the consumer would not be necessary to initiate an obligation of response.
The Massachusetts Division of Banks clarified in a July 18, 2014 written opinion that a debt collector’s receipt of an oral request for records is sufficient to trigger the “five business day” period set forth in the Division’s validation of debt rule in Section 18.18(3). Section 18.18 of the Division’s Conduct of the Business of ...
Idaho Supreme Court ruling could change charges and fees
The Idaho Supreme Court’s recent decision regarding attorney’s fees could change how you charge collection fees. The Idaho Department of Finance recently issued guidance to help licensed collection agencies comply with the Idaho Collection Agency Act. In May, the high court unanimously ruled that collection agency Medical Recovery Services could not ask for attorney’s fees ...