Massachusetts Division of Banks Clarifies State Debt Collection Provision

The Massachusetts Division of Banks recently provided clarification regarding Massachusetts regulation 209 § 18.18(3), related to debt validation requirements. Mass. Code Regs. 209 § 18.18(3), states as follows:

(3) A debt collector shall provide to a consumer or any attorney for a consumer within five business days the following:

(a) All papers or copies of papers and electronic records, in the possession of the debt collector which bear the signature of the consumer and which concern the debt being collected; and

(b) A ledger, account card, or similar record in the possession of a debt collector, whether paper or electronic, which reflects the date and amount of payments, credits, and charges concerning the debt.

The Division of Banks clarified that the section above is triggered by an oral or written request of a consumer for the information identified under § 18.18(3). The division stated, “Under 209 CMR 18.18(3) the debt collector’s receipt of an oral request for records from the consumer, or the consumer’s attorney, is sufficient to trigger the debt collector’s obligation and may serve to commence the five business day period in which the required response must be returned to the consumer.”

For more information, members can review Mass. Code Regs. 209 § 18.18 in its entirety.

This piece originally appeared on the news feed of ACA International.