Texas Finance Code
§ 392.202 — CORRECTION OF THIRD-PARTY DEBT COLLECTOR'S OR CREDIT BUREAU'S FILES
FI § 392.202Title 5. PROTECTION OF CONSUMERS OF FINANCIAL SERVICES · Ch. 392. DEBT COLLECTION · Art. C. INFORMATION IN FILES OF CREDIT BUREAU OR DEBT COLLECTOR
Statute text
View on source(a)An individual who disputes the accuracy of an item that is in a third-party debt collector's or credit bureau's file on the individual and that relates to a debt being collected by the third-party debt collector may notify in writing the third-party debt collector of the inaccuracy. The third-party debt collector shall make a written record of the dispute. If the third-party debt collector does not report information related to the dispute to a credit bureau, the third-party debt collector shall cease collection efforts until an investigation of the dispute described by Subsections (b)-(e) determines the accurate amount of the debt, if any. If the third-party debt collector reports information related to the dispute to a credit bureau, the reporting third-party debt collector shall initiate an investigation of the dispute described by Subsections (b)-(e) and shall cease collection efforts until the investigation determines the accurate amount of the debt, if any. This section does not affect the application of Chapter 20, Business & Commerce Code, to a third-party debt collector subject to that chapter.
(b)Not later than the 30th day after the date a notice of inaccuracy is received, a third-party debt collector who initiates an investigation shall send a written statement to the individual:
(1)denying the inaccuracy;
(2)admitting the inaccuracy; or
(3)stating that the third-party debt collector has not had sufficient time to complete an investigation of the inaccuracy.
(c)If the third-party debt collector admits that the item is inaccurate under Subsection (b), the third-party debt collector shall:
…
Legislative history
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. Amended by Acts 2003, 78th Leg., ch. 851, Sec. 1, eff. Sept. 1, 2003.