Certified Regulatory Compliance Manager (CRCM) — Question 308

Validation of debt says:

Answer options

• A. Consumer must be sent debt validation in writing within five calendar days of initial communication unless information is contained in initial communication or unless consumer pays the debt
• B. If consumer disputes a debt in writing within 60 days, all collection activity must stop until the debt is verified
• C. If consumer disputes a debt in writing within 15 days, all collection activity must stop until the debt is verified
• D. If a consumer owes multiple debts and makes any multiple payments, debt collector must apply to debt in accordance with the consumer's direction

Correct answer: A

Explanation

Answer A is correct because it accurately reflects the requirement for debt validation within five days of initial contact, except in certain circumstances. The other options misstate the timelines or conditions under which collection activities must stop, making them incorrect.