Title I and Other Debt Collection Guidance



Title I and Other Debt Collection Guidance APPENDIX 2

4740.2 REV-3

Sample DCAMS Credit Bureau Warning Letter (i.e.“CB” Letter)

U.S. DEPT OF HOUSING & RUBAN DEV 05/03/02

DEPARTMENT OF HUD

FINANCIAL OPERATIONS CTR

52 CORPORATE CIRCLE

ALBANY NY 122035121

518-464-4200 EXT: 0000 (LOCAL)

1-800-669-5152 (TOLLFREE)

NOTICE OF DISCLOSURE OF DEBT

TO CONSUMER REPORTING AGENCY

TYPE OF LOAN: MISC. REPAIRS

JOHN SMITH DATE OF LOAN: 08/20/91

101 MAIN ST. LENDER: SOUTH SHORE BANK OF CHICAGO

LYNWOOD WA 98037 AMT DUE LENDER: .00

DATE OF DEFAULT: 11/02/92

PRINCIPAL DUE: 40,533.81

INTEREST DUE: 1,481.17

AS OF: 07/15/91

CLAIM NUMBER: 7-99999999-0

THE NOTE YOU SIGNED TO OBTAIN THE ABOVE REFERENCED LOAN WAS INSURED AGAINST NON-PAYMENT BY THE UNITED STATES GOVERNMENT. SINCE YOU DID NOT REPAY THE LENDING INSTITUTION AS AGREED, THE LENDER FILED A CLAIM FOR LOSS WITH THE DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT (HUD) AND WAS REIMBURSED. AT THAT TIME ALL LEGAL DOCUMENTS AND RIGHTS WERE ASSIGNED TO THE UNITED STATES OF AMERICA AND THE COLLECTION OF YOUR DEBT NOW RESTS WITH HUD. HUD HAS REVIEWED THE DEBT AND DETERMINED THAT THE DEBT IS VALID AND OVERDUE.

HUD IS AUTHORIZED BY FEDERAL LAW (SECTION 3711 (F) OF TITLE 31, UNITED STATES CODE AND SECTION 17.76 OF TITLE 24, CODE OF FEDERAL REGULATIONS) TO REPORT VALID, OVERDUE DEBTS TO CONSUMER REPORT AGENCIES (CREDIT BUREAUS).

IF YOU ARE NOT CURRENT UNDER A WRITTEN REPAYMENT AGREEMENT, YOUR DEBT

IS OVERDUE AND YOU HAVE 65 DAYS FROM THE DATE OF THIS NOTICE TO MAKE SUCH AN

AGREEMENT OR TO OTHERWISE SATISFY YOUR DEBT. OTHERWISE, HUD WILL REPORT YOUR DEBT

AND THE FACT THAT YOU ARE RESPONSIBLE FOR THE DEBT TO A NATIONAL CREDIT BUREAU

SERVICE. OTHER INFORMATION TO BE REPORTED INCLUDES YOUR NAME, ADDRESS AND SOCIAL

SECURITY NUMBER; THE PROGRAM UNDER WHICH YOU INCURRED THE DEBT; THE BALANCE TO BE

REPAID ON THE DEBT; AND THE STATUS OF ANY REPAYMENT PLAN.

HUD WILL UPDATE ITS REPORT PERIODICALLY TO REFLECT IMPORTANT CHANGES

IN THE STATUS OF YOUR ACCOUNT.

IF YOU WOULD LIKE FURTHER INFORMATION ABOUT YOUR DEBT, IF YOU WISH TO

DISPUTE ANY INFORMATION IN HUDS RECORDS CONCERNING YOUR DEBT OR IF YOU WISH A REVIEW

OR APPEAL WITH RESPECT TO YOUR DEBT, PLEASE CONTACT ME PROMPTLY AT THE ADDRESS SHOWN

ON THE TOP OF THE NOTICE, AND I WILL MAKE THE APPROPRIATE ARRANGEMENTS.

SINCERELY,

DEBT SERVICING REPRESENTATIVE

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