Section 704. Permissible procedures by creditor

Notwithstanding the receipt
  by  a creditor of a notice from a consumer as described in section seven
  hundred three of this act, a creditor may, subject to the provisions  of
  section  seven hundred seven of this act, transmit statements of account
  to the consumer which include an amount believed by the consumer to be a
  billing error, and  the  creditor,  further,  may  undertake  collection
  procedures  not  attributable  to  such  consumer's  failure to pay, nor
  directed at, such disputed amount.