§ 5-76 Debt Collection.
RCNY § 5-76
Definitions. As used in this part: Communication. The term "communication" means the conveying of information regarding a debt directly or indirectly to any person through any medium. Consumer. The term "consumer" means any natural person obligated or allegedly obligated to pay any debt. Creditor. The term "creditor" means any person, firm, corporation or organization to whom a debt is owed or due or alleged to be owed or due or any assignee for value of said person, firm, corporation or organization. Debt. The term "debt" means any obligation or alleged obligation of a consumer to pay money arising out of a transaction in which the money, property, insurance, or services which are the subject of the transaction are primarily for personal, family, or household purposes, whether or not such obligation has been reduced to judgment. Debt collection procedures. The term "debt collection procedures" means any attempt by a debt collector to collect a debt after: (1) with respect to accounts for which creditors are required to send periodic statements, the creditor has ceased sending those statements, or taken or threatened to take legal action against the consumer; (2) with respect to 30-day accounts for which periodic statements are not required, the creditor has ceased sending bills for the debt or taken or threatened to take legal action against the consumer; and (3) with respect to all other types of credit, the creditor has accelerated the unpaid balance of the debt or demanded the full balance due. Debt collector. The term "debt collector" means an individual who, as part of his or her job, regularly collects or seeks to collect a debt owed or due or alleged to be owed or due. The term does not include: (1) any officer or employee of the United States, any State or any political subdivision of any State to the extent that collecting or attempting to collect any debt owed is in the performance of his or her official duties; (2) any person while engaged in performing an action required by law or regulation, or required by law or regulation in order to institute or pursue a legal remedy; (3) any individual employed by a nonprofit organization which, at the request of consumers, performs bona fide consumer credit counseling and assists consumers in the liquidation of their debts by receiving payments from such consumers and distributing such amounts to creditors; or (4) any individual employed by a utility regulated under the provisions of the Public Service Law, to the extent that New York Public Service Law or any regulation promulgated thereunder is inconsistent with this part. Where a provision of this part limits the number of times an action may be taken by the debt collector, or establishes as a prerequisite to taking an action that the debt collector has received or done something, or prohibits an action if the debt collector has knowledge of or reason to know something, the term "debt collector" includes any debt collector employed by the same employer. Location information. The term "location information" means a consumer's place of abode and his telephone number at such place, or his place of employment. Periodic statement. The term "periodic statement" means the statement of account certain creditors are required by 12 C.F.R. § 226.7(b) [Regulation Z] to send at the end of each billing cycle for which there is an outstanding disputed debit or credit balance in excess of $1 in the account or with respect to which a finance charge is imposed. Reasonable period of time. The term "reasonable period of time" means in the absence of knowledge of circumstances to the contrary, ten business days. 30-day account. The term "30-day account" means an account on which the outstanding balance at the end of a billing period is to be paid in full within a stated period of time without imposition of any finance charge.
