Transcription of Debt Collection Rule: Disclosing the Model Validation ...
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Debt Collection Rule: Disclosing the Model Validation ...
1700 G Street NW, Washington, DC 20552. October 29, 2021. Debt Collection Rule: Disclosing the Model Validation Notice Itemization Table 1. The Debt Collection Rule (Rule) requires debt collectors to provide consumers with certain information to help them identify the debt being collected. This information is called the Validation information and consists of information about the debt, information about the consumer's protections and rights during Collection of the debt, and information to facilitate the consumer's ability to exercise those rights. The Rule details how a debt collector can provide the Validation information in a Validation notice.
model validation notice and how changes to the model validation notice affect the safe harbor for the validation information content and format requirements can be found in the Debt Collection Rule FAQs, Validation Information Questions 2 through 4, as well as Section 12.1.3 of the Debt Collection Rule Small Entity Compliance Guide.
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