Data Source:Laws and Regulations Retrieving System of the Banking Bureau
2003.11.04
Financial Institutions Undertaking Credit Card, Cash Card, and Personal Consumer Loan Business May Not Disturb or Pursue Collections From Any Third Party Other Than Principal Debtors and Their Guarantors When Carrying Out Collections
Financial Institutions Undertaking Credit Card, Cash Card, and Personal Consumer Loan Business May Not Disturb or Pursue Collections From Any Third Party Other Than Principal Debtors and Their Guarantors When Carrying Out Collections
(4 November 2003)
Letter Ref. Tai-Tsai-Rong-(IV)-0924001066
Subject: To protect the rights and interests of the public, financial institutions undertaking credit card, cash card, and personal consumer loan business, regardless of whether they outsource collections work, may carry out collections against principal debtors and their guarantors only, and may not by any means carry out collections by disturbing, or pursuing collections from, any third party. (Please be advised and forward the information herein.)