58-70-50. All collection agencies to identify themselves in correspondence. All collection agencies licensed under this Part to do the business of a collection agency in this State, shall in all correspondence with debtors use stationery or forms which contain the permit number and the true name and address of such collection agency. The permit to […]
58-70-55. Office hours. If an office of a duly licensed collection agency does not maintain normally accepted business hours, the hours the office is open shall be posted so as to be prominently displayed to the public at all times. If at any time it is anticipated that the permit holder’s office will be closed […]
58-70-6. Definitions. For purposes of G.S. 58-70-5 and this section, the following definitions apply: (1) An "affiliate" of or a person "affiliated" with a specific person. – A person that indirectly through one or more intermediaries or directly controls, is controlled by, or is under common control with the person specified. (2) Control, including the […]
58-70-60. Statements to be furnished each collection creditor. (a) Acknowledgment of Accounts. – When any account is received for collection, the permit holder shall upon request furnish the collection creditor or forwarder with a written listing or acknowledgment of the accounts received. (b) Remittance Statements. – Each permit holder shall remit all moneys due to […]
58-70-65. Remittance trust account. (a) Each permit holder shall deposit, no later than two banking days after receipt, in a separate trust account in any bank located in North Carolina or in any other bank approved by the Commissioner, sufficient funds to pay all moneys due or owed to all collection creditors or forwarders. The […]
58-70-70. Receipt requirement. (a) Whenever a payment is received in cash from a debtor, forwardee, or other person, an original receipt or an exact copy thereof shall be furnished the individual from whom payment is received. Evidence of all receipts issued shall be kept in the permit holder’s office for three years. All receipts issued […]
58-70-75. Creditor may request return of accounts. The written request of a creditor or forwarder for the return of any account which is not in the actual process of collection shall be complied with by the permit holder in writing within a reasonable length of time, but in any event not to exceed 60 days. […]
58-70-80. Return of accounts and all valuable papers upon termination of permit. Whenever the permit of a collection agency is revoked, cancelled, or terminated for any reason, all accounts and valuable papers placed with the agency for collection shall be returned to the person placing the account for collection within five days of the termination […]
58-70-85. Application of funds where there is a debtor-creditor relationship. If a creditor has listed accounts with a permit holder for collection and also has had accounts on which he is debtor listed with the permit holder by any other creditors, collections effected in his behalf as a creditor may not be applied on accounts […]
58-70-90. Definitions. As used in this Part, the following terms have the meanings specified: (1) "Collection agency" means a collection agency as defined in G.S. 58-70-15 which engages, directly or indirectly, in debt collection from a consumer. (2) "Consumer" means an individual, aggregation of individuals, corporation, company, association, or partnership that has incurred a debt […]
58-70-95. Threats and coercion. No collection agency shall collect or attempt to collect any debt alleged to be due and owing from a consumer by means of any unfair threat, coercion, or attempt to coerce. Such unfair acts include, but are not limited to, the following: (1) Using or threatening to use violence or any […]
