PCM Debt Collection Laws & Compliance 5

Question 1

Under the FDCPA, what must a collector disclose in subsequent communications after the initial communication with a consumer?

Accepted Answer

That the communication is from a debt collector

Answer

The full account history

Answer

The collector's fee schedule

Answer

The consumer's credit score

Question 2

Which debt is generally outside the FDCPA's scope?

Accepted Answer

A loan used to buy equipment for the consumer's business

Answer

A credit card balance for household purchases

Answer

A medical bill for a family member

Answer

An unpaid personal auto loan

Question 3

When a collector learns a consumer has filed for bankruptcy, what is generally required?

Accepted Answer

Stop collection activity due to the automatic stay

Answer

Continue collection until discharge

Answer

Contact the consumer to confirm the filing

Answer

Report the debt as delinquent immediately

Question 4

Under the Servicemembers Civil Relief Act, interest on obligations incurred before active military service is capped at what rate during service?

Accepted Answer

6%

Answer

3%

Answer

10%

Answer

12%

Question 5

Which practice regarding envelopes and mail is prohibited under the FDCPA?

Accepted Answer

Communicating with the consumer by postcard

Answer

Using the collector's address on the envelope

Answer

Using a business name that does not indicate debt collection

Answer

Sending mail first-class

Question 6

Under Regulation F, which voicemail content qualifies as a 'limited-content message' that is not considered a communication?

Accepted Answer

A business name not indicating collection, a request to reply, name(s) of contact, phone number, and opt-out option

Answer

Debtor's name, balance, and creditor name

Answer

Full mini-Miranda and account number

Answer

Only the collector's company name

Question 7

Under Regulation F, how long must a debt collector retain records evidencing compliance for a debt?

Accepted Answer

Three years after the last collection activity on the debt

Answer

One year after the last payment

Answer

Five years from charge-off

Answer

Seven years from account opening

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