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Debt Collection Exempt Sources Required Notice


Book Publication Date: Apr 2014
Description: Under federal law certain sources of income, such as social security, unemployment, and federal student loans, are exempt from collection by consumer debt collectors. Debt collectors are required to notify consumers that such funds cannot be used to satisfy any judgment against them. This form provides the required form of such notice.
Type: Required Notices
PLI Item #: 61031
Practice Area: Banking, Litigation
Keywords: "Fair Debt Collection Practices Act"; "New York State Department of Financial Services"; "consumer credit"; "consumer debt"; "credit history"; "credit score"; "debt collector"; "required notice"; "exempt sources"; "student loans"; "supplemental security income"; "social security"; "public assistance"; "spousal support"; "unemployment"; "welfare"

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