2023 California Code › Civil Code - CIV › DIVISION 3 - OBLIGATIONS › PART 4 - OBLIGATIONS ARISING FROM PARTICULAR TRANSACTIONS › TITLE 1.6C.15 - Private Student Loan Collections Reform Act › Section 1788.202.

1788.202. (a) A private education lender or a private education loan collector shall not make any written statement to a debtor in an attempt to collect a private education loan unless the private education lender or private education loan collector possesses the following information:
(1) The name of the owner of the private education loan.
(2) The creditor’s name at the time of default, if applicable.
(3) The creditor’s account number used to identify the private education loan at the time of default, if the original creditor used an account number to identify the private education loan at the time of default.
(4) The amount due at default.
(5) An itemization of interest, if any, that has accrued on the private education loan.
(6) An itemization of fees, if any, claimed to be owed on the private education loan and whether those fees were imposed by the original creditor or any subsequent owners of the private education loan.
(7) The date that the private education loan was incurred.
(8) The date of the first partial payment or the first day that a payment was missed, whichever is earlier, that precipitated default.
(9) The date and amount of the last payment, if applicable.
(10) Any payments, settlement, or financial remuneration of any kind paid to the creditor by a guarantor, surety, or other party not obligated on the loan as compensation under a separate contract that provides coverage for financial losses incurred as a result of default, if applicable.
(11) The names of all persons or entities that owned the private education loan after the time of default, if applicable, and the date of each sale or transfer.
(12) A copy of the self-certification form and any other “needs analysis” conducted by the original creditor prior to origination of the loan.
(13) Documentation establishing that the creditor is the owner of the specific individual private education loan at issue. If the private education loan was assigned more than once, the creditor shall possess each assignment or other writing evidencing the transfer of ownership of the specific individual private education loan to establish an unbroken chain of ownership, beginning with the original creditor to the first subsequent creditor and each additional creditor. Each assignment or other writing evidencing transfer of ownership or the right to collect shall contain the original creditor’s account number (redacted for security purposes to show only the last four digits) of the private education loan purchased or otherwise assigned, the date of purchase and assignment, and shall clearly show the borrower’s correct name associated with the original account number. The assignment or other writing attached shall be that by which the creditor or other assignee acquired the private education loan, not a document prepared for litigation.
(14) A copy of all pages of the contract, application, or other documents evidencing the debtor’s liability for the private education loan, stating all terms and conditions applicable to the private education loan.
(15) A list of all collection attempts made in the last 12 months, including date and time of all calls and written communications.
(16) A statement as to whether the creditor is willing to renegotiate the terms of the private student loan.
(17) Copies of all written settlement communications made in the last 12 months, or, in the alternative, a statement that the creditor has not attempted to settle or otherwise renegotiate the debt prior to suit.
(18) A statement as to whether the private education loan is eligible for an income-based repayment plan.
(b) (1) In addition to any other information required under applicable federal or state law, a private education lender or private education loan collector shall provide the information set forth in subdivision (a) in the first written collection communication with a debtor after the first of either of the following:
(A) Default and acceleration.
(B) A period of 12 consecutive months of default.
(2) A private education lender or private education loan collector shall provide the information set forth in subdivision (a) to the debtor upon the debtor’s request if both of the following are true:
(A) An event described in subparagraph (A) or (B) of paragraph (1) has occurred.
(B) The debtor has not requested or received the information set forth in subdivision (a) within the previous 12 months.
(Added by Stats. 2021, Ch. 559, Sec. 1. (AB 424) Effective January 1, 2022. Operative July 1, 2022, pursuant to Section 1788.211.)