Credit Cost Reduction Act of 1999 - Amends the Fair Debt Collection Practices Act to: (1) exclude from the definition of "communication" any actions taken pursuant to Federal or State rules of civil procedure, or a nonjudicial foreclosure; and (2) permit collection activities and communications during the 30 days following initial notice to the consumer about a debt collection unless the consumer requests cessation of such activities.

Extends to any series of class actions arising out of the same violations by the same debt collector the current limit on the total amount of the debt collector's liability for additional damages that can be awarded to a plaintiff in the case of a successful class action to enforce liability of a noncompliant debt collector. Disallows recovery to the consumer of attorney's fees accruing after the consumer's refusal of such debt collector's settlement offer, if the amount of the final judgment awarded to the consumer is less than such offer.

Shields a debt collector from liability in the case of good faith compliance with Federal or State rules of civil procedure.

Exempts from certain debt collection disclosure requirements those mortgage servicers for which delinquent debt collection is secondary to the servicing of federally related mortgage loans secured by a first lien. Requires such mortgage servicers to furnish the debtor with certain validation statements prior to debt acceleration.