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What is NYC AC § 20-493.1?

Quick Answer

This section outlines required practices for debt collection agencies, mandating that they provide specific information during communications with consumers and confirm agreements in writing within five business days. Applies to debt collection agencies operating in New York City.

General informational summary. Not legal advice for your situation. Consult an attorney before acting on any specific matter.

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§ 20-493.1 Required collection practices.

AC § 20-493.1

In addition to any practices required under any federal, state or local law, a debt collection agency shall: a. In any permitted communication with the consumer, provide: i. a call-back number to a phone that is answered by a natural person, ii. the name of the agency, iii. the originating creditor of the debt, iv. the name of the person to call back, and v. the amount of the debt at the time of the communication. b. Confirm in writing to the consumer, within five business days, any debt payment schedule or settlement agreement reached regarding the debt.

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