PA-FEC 10 - Creditor Relations
The agency demonstrates credibility and accountability to the credit-granting entities that have agreed to participate in a debt management plan.
Interpretation: When the creditor’s policy is in conflict with the requirements of these standards, the agency should act in accordance with creditor requirements and with the client’s best interest in mind.
Interpretation: An agency that uses a third party electronic payment provider is responsible for all of the standards in this section, and:
NA The agency does not provide debt management plans.
The agency provides electronic funds transfers at the creditor’s request.
Within ten working days of discontinuing a DMP, the agency provides, in writing, to the involved creditors:
Update: Added Second Interpretation - 06/01/10
Added Second Interpretation
Interpretation: Regarding element c, in some cases not all listed information is available or appropriate to release. In these cases, an explanation should be placed in the client file.
Interpretation: Information may be provided to the creditor within the timeframes noted in creditor policy.