What is a debt collector’s duty to disclose?

In New Mexico, debt collectors must adhere to the Consumer Debt Defense Law. Under this law, debt collectors have a duty to disclose certain information when collecting a debt. First, debt collectors must disclose to a debtor that the communication is from a debt collector and is an attempt to collect a debt. Debt collectors must also provide the amount of the debt, the name of the original creditor, and the identity of the current creditor. This is done to protect debtors from any potential errors or mistakes. In addition, the debt collector must provide the debtor with paperwork that outlines their rights under the law. This paperwork must include information about the debtor’s right to dispute the validity of the debt, contact the state’s attorney general, and contact the Federal Trade Commission (FTC). Finally, debt collectors cannot threaten or harass a debtor. They cannot use profane, obscene, or abusive language. If they do, they can be subject to penalties under the law. By adhering to these disclosure requirements, debt collectors can help protect debtors and ensure they receive the information they need to make informed decisions. This helps to ensure that debtors in New Mexico are treated fairly and that their rights are respected.

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What is a debt collector’s duty to disclose?

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