§2506.13. How will the Corporation contract for private collection services?
45 C.F.R. § 2506.13
The Corporation uses the services of a private collection contractor when it determines that such use is in the Corporation's best interest. When the Corporation determines that there is a need to contract for private collection services, the Corporation:
Retains sole authority to—
Resolve any dispute with the debtor regarding the validity of the debt;
Compromise the debt;
Suspend or terminate collection action;
Refer the debt to the DOJ for litigation; and
Take any other action under this part;
Requires the contractor to comply with the—
Privacy Act of 1974, as amended, to the extent specified in 5 U.S.C. 552a(m);
Fair Debt Collection Practices Act (15 U.S.C. 1692-1692o); and
Other applicable Federal and State laws pertaining to debt collection practices and applicable regulations of the Corporation in this part;
Requires the contractor to account accurately and fully for all amounts collected; and
Requires the contractor to provide to the Corporation, upon request, all data and reports contained in its files related to its collection actions on a debt.
Notes, amendments, and revision history
Authority
Authority: 5 U.S.C. 5514; 31 U.S.C. 3701-3720A, 3720D; 44 U.S.C. 2104(a).
Source
Source: 68 FR 16438, Apr. 4, 2003, unless otherwise noted.