OK- so went back and read the rule and you only put the language in that applies to the situation. For example, if the borrower filed BK and has no personal liability- you can't include the statement "you remain liable..."
If after you take the exemption (charging no fees/etc.), you can lose the exemption if you need to assess fees or interest. At that point, you are required to provide periodic statements again. I hope that helps.
Any direction on my question (where the language "You will not receive periodic statements, etc.) needs to go, would be appreciated. I don't see anything in the FR about it other than the "Suspension of Statements..." language must be in BOLD.
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