§ 6:1413 — Written inquiries and complaints

Louisiana § 6:1413

• Jurisdiction: Louisiana
• Title 6: Banks and Banking

Text

§1413. Written inquiries and complaints
A. A student loan servicer shall acknowledge receipt of a written inquiry or
complaint from a student loan borrower or the authorized representative of a student loan
borrower within ten days after receiving the inquiry or complaint.
B. Unless a response to the written inquiry is included in the acknowledgment
required pursuant to Subsection A of this Section, a student loan servicer shall provide
information responding to a written inquiry or complaint received pursuant to Subsection A
of this Section within thirty days after receiving the inquiry or complaint.
C. If a written inquiry or complaint received pursuant to Subsection A of this Section
relates to a student loan borrower's account balance, the information provided pursuant to
Subsection B of this Section is to include either of the following:
(1) A statement that the student loan servicer has corrected the account balance.
(2) An explanation of why the student loan servicer believes that the student loan
borrower's account is correct.
D. If a student loan borrower requests a document concerning the account of the
student loan borrower that is in the possession or control of a student loan servicer, the
student loan servicer shall provide the document within thirty days after receiving the
request.
E. If a student loan servicer receives a nonconforming payment, the student loan
servicer shall do all of the following:
(1) Notify the student loan borrower that the payment is a nonconforming payment
within ten days after receiving the payment.
(2) Ask the student loan borrower how he would like the student loan servicer to
apply the nonconforming payment to the student loan borrower's account.

Legislative History

Acts 2022, No. 710, §1.