Validating debt with collection agency

Once you have information on the debt, how you proceed depends on whether you actually owe it and whether you’re in a position to pay the debt if you do.If the debt is yours, you have a few ways to handle a debt in collections.is disputed, or that the consumer requests the name and address of the original creditor, the debt collector shall cease collection of the debt ...until the debt collector obtains verification of the debt or any copy of a judgment, or the name and address of the original creditor, and a copy of such verification or judgment, or name and address of the original creditor, is mailed to the consumer by the debt collector.Side note: I should add that one criticism of the FDCPA is that it limits the civil penalties the court can award an individual, above and beyond the damages caused by the debt collection agency, to

Once you have information on the debt, how you proceed depends on whether you actually owe it and whether you’re in a position to pay the debt if you do.If the debt is yours, you have a few ways to handle a debt in collections.is disputed, or that the consumer requests the name and address of the original creditor, the debt collector shall cease collection of the debt ...until the debt collector obtains verification of the debt or any copy of a judgment, or the name and address of the original creditor, and a copy of such verification or judgment, or name and address of the original creditor, is mailed to the consumer by the debt collector.Side note: I should add that one criticism of the FDCPA is that it limits the civil penalties the court can award an individual, above and beyond the damages caused by the debt collection agency, to $1,000.The act was passed in 1977, so inflation has reduced the real amount and purchasing power of that award.If you can’t afford to pay it, you may want to look into debt relief.If the debt is not yours, write a letter to the debt collection company disputing the debt.

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Once you have information on the debt, how you proceed depends on whether you actually owe it and whether you’re in a position to pay the debt if you do.

If the debt is yours, you have a few ways to handle a debt in collections.

is disputed, or that the consumer requests the name and address of the original creditor, the debt collector shall cease collection of the debt ...

until the debt collector obtains verification of the debt or any copy of a judgment, or the name and address of the original creditor, and a copy of such verification or judgment, or name and address of the original creditor, is mailed to the consumer by the debt collector.

Side note: I should add that one criticism of the FDCPA is that it limits the civil penalties the court can award an individual, above and beyond the damages caused by the debt collection agency, to $1,000.

The act was passed in 1977, so inflation has reduced the real amount and purchasing power of that award.

If you can’t afford to pay it, you may want to look into debt relief.

If the debt is not yours, write a letter to the debt collection company disputing the debt.

,000.The act was passed in 1977, so inflation has reduced the real amount and purchasing power of that award.If you can’t afford to pay it, you may want to look into debt relief.If the debt is not yours, write a letter to the debt collection company disputing the debt.

The validation letter might leave you with more questions than answers about why you owe the amount listed or whether you owe the debt at all.If you encounter such behavior, you can file a complaint with the Consumer Financial Protection Bureau. The key is to be thorough in your request for debt verification.In your letter, ask for details on: You may want to send this letter by certified mail and request return receipt so you can document the correspondence between you and the debt collector.a) Within five days after the initial communication with a consumer in connection with the collection of any debt, a debt collector shall, unless the following information is contained in the initial communication or the consumer has paid the debt, send the consumer a written notice containing: However, if you notify them in writing to dispute the debt, the debt collector has to stop collection of the debt and send you written verification of it (which they already should have anyway).Per the act: b) If the consumer notifies the debt collector in writing within the thirty-day period described in subsection (a) that the debt ...

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You can still send a verification letter after the 30-day mark, but the debt will be assumed valid and the collector can continue to seek payment while it responds to your letter.

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