Asked by Mikey Vancouver on Apr 26, 2024
Verified
Check made out to a patient by another unknown party
A) third-party check
B) postal money order
C) Federal Trade Commission (FTC)
D) Fair Debt Collection Practices Act (FDCPA)
E) Truth in Lending Act (TILA)
F) validation notice
G) collection agencies
H) statute of limitations
I) skip
J) bankruptcy
Third-Party Check
A check that is written by one person or entity to another but is then given to a third party to be cashed or deposited.
Unknown Party
An individual or entity whose identity is not known or cannot be confirmed.
- Gain understanding on the principles of compliance and ethics within billing and collections activities, focusing on the treatment of credit balances and compliance with required disclosures as mandated by the Truth in Lending Act and the Fair Debt Collection Practices Act.
Verified Answer
AA
Ayman AlshareefMay 01, 2024
Final Answer :
A
Explanation :
A third-party check is a check made out to one party (in this case, the patient) that is then signed over to another party. When the check comes from an unknown party, it still fits the definition of a third-party check, as it involves entities other than the direct issuer and recipient.
Learning Objectives
- Gain understanding on the principles of compliance and ethics within billing and collections activities, focusing on the treatment of credit balances and compliance with required disclosures as mandated by the Truth in Lending Act and the Fair Debt Collection Practices Act.