The Fair Debt Collection Practices Act Requires a Debt Collector

question 76

Multiple Choice

The Fair Debt Collection Practices Act requires a debt collector to provide the consumer with a written notice. What information must be contained in this notice?

• A) The amount of the debt, with interest and penalties clearly delineated.
• B) The name and phone number of the current creditor and former creditor.
• C) A statement telling the consumer that he can request verification of the alleged debt.
• D) A copy of the original credit contract with the original creditor.

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Definitions:

Subjectivity

The influence of personal feelings, tastes, or opinions in decision-making or perception.

Suppliers

Entities that provide goods or services to another entity, typically within a supply chain or business process.

Bullwhip Measure

Refers to the calculation of the variation in demand and inventory levels within a supply chain, illustrating how slight changes in consumer demand can lead to larger variances in orders placed upstream.

Dampening Scenario

A situation where fluctuations in demand or supply are reduced or stabilized to minimize the impact on operations or planning.