Section 1150.13 - How will the Endowment contract for collection services?The Endowment will use the services of a private collection contractor where it determines that such use is in the best interest of the Endowment. When the Endowment determines that there is a need to contract for collection services, it will:
(a) Retain sole authority to:(1) Resolve any dispute with the debtor regarding the validity of the debt;(3) Suspend or terminate collection action;(4) Refer the debt to the DOJ for litigation; and(5) Take any other action under this part which does not result in full collection of the debt;(b) Require the contractor to comply with the Privacy Act of 1974, as amended, to the extent specified in 5 U.S.C. 552a(m) ; with the Fair Debt Collection Practices Act (1 5 U.S.C. 1692-1692o ) and other applicable Federal and State laws pertaining to debt collection practices; and with the applicable regulations of the Endowment in this chapter;(c) Require the contractor to account accurately and fully for all amounts collected; and(d) Require the contractor to provide to the Endowment, upon request, all data and reports contained in its files related to its collection actions on a debt.