Communication & Stakeholder Engagement Flashcards

What is the 'mini-Miranda' disclosure in consumer debt collection?

Answer: A notice that the communication is from a debt collector attempting to collect a debt and information will be used for that purpose

FDCPA Section 807(11) requires initial communications to state this, and later ones to disclose they are from a debt collector.

Under Regulation F, the validation information must generally be provided within how many days of the initial communication if not included in it?

Answer: Five days

Validation information must be sent within five days after the initial communication if not provided in it.

A consumer sends a written request that the collector cease all communication. Which contact is still permitted?

Answer: Notice that the collector or creditor may invoke a specified remedy, such as filing suit

After a cease request, collectors may only advise that efforts are ending or that specific remedies may be invoked.

Under Regulation F, electronic communications such as emails and texts from a debt collector must include what?

Answer: A clear and conspicuous way for the consumer to opt out of further electronic messages

Reg F requires a reasonable and simple opt-out method in each electronic communication.

Which KPI report is most useful to share with senior finance leadership when discussing collection performance?

Answer: DSO and aging trends with cash-collected versus forecast

Executives care about cash-flow impact, best shown through DSO, aging, and collections versus forecast.

A debtor becomes angry and shouts during a call. What is the best initial response?

Answer: Stay calm, acknowledge the frustration, and redirect to resolving the account

De-escalation through empathy and calm redirection keeps the conversation productive and compliant.

Once a collector knows a consumer is represented by an attorney regarding the debt, it should generally do what?

Answer: Communicate with the attorney instead of the consumer, unless the attorney fails to respond in a reasonable time or consents

FDCPA Section 805(a)(2) requires communicating through known counsel with limited exceptions.