Ariz. Admin. Code § 20-4-1518

Current through Register Vol. 30, No. 49, December 6, 2024

Section R20-4-1518 - Agreements with Clients

A collection agency's records shall document each client's account in writing. The records for an account shall include either a written agreement between the client creditor and the collection agency, or a written direction from the creditor to the collection agency concerning a specific debt placed for collection. The collection agency shall keep records that are specific, easily understood, and unambiguous. A provision of a written agreement or written direction that suggests the collection agency has authority to represent the client in court , or to practice law in any other way , is void and prohibited by this Section. The records for an account shall separately state:

1. The names of the parties to the agreement or written direction,

2. The terms or rate of compensation paid to the collection agency,

3. The length of time the agreement or written direction is intended to be in effect, and

4. Any conditions regarding collection of a particular debt.

Ariz. Admin. Code § R20-4-1518

Adopted effective December 18, 1979 (Supp. 79-6). R20-4-1518recodified from R4-4-1518 (Supp. 95-1). Amended by final rulemaking at 12 A.A.R. 1331, effective June 4, 2006 (Supp. 06-2). Amended by final rulemaking at 29 A.A.R. 1961, effective 10/2/2023.