Unfair Collection Practices. Banks, subsidiary/affiliate credit card companies, collection agencies, counsels and other agents may resort to all reasonable and legally permissible means to collect amounts due them under the credit card agreement:
Provided, That in the exercise of their rights and performance of duties, they must observe good faith and reasonable conduct and refrain from engaging in unscrupulous or untoward acts.
Without limiting the general application of the foregoing, the following conduct is a violation of this Subsection:
a) the use or threat of violence or other criminal means to harm the physical person, reputation, or property of any person;
c) disclosure of the names of credit cardholders who allegedly refuse to pay debts, except as allowed under Subsec. X320.9 and 4301N.9;
d) threat to take any action that cannot legally be taken;
e) communicating or threat to communicate to any person credit information which is known to be false, including failure to communicate that a debt is being disputed;
f) any false representation or deceptive means to collect or attempt to collect any debt or to obtain information concerning a cardholder; and
g) making contact at unreasonable/inconvenient times or hours which shall be defined as contact before 6:00 A.M. or after 10:00 P.M., unless the account is past due for more than sixty (60) days or the cardholder has given express permission or said times are the only reasonable or convenient opportunities for contact.
Did you like “What is Circular 454 section 7 : Unfair Collection Practices?” . We would greatly appreciate if you would share this on Facebook and Re tweet it.
No comments:
Post a Comment