Debt Validation Letter
A Step By Step Guide On How To Stop Debt Collection Agencies, Cold!
Debt Validation Letter, 6 Sure-Fire tips on how write a validation of debt letter! Once a debt is disputed a debt collector is required to stop collection efforts until the debt is in fact validated.
A debt validation letter may provide you with a way to keep from dealing with a court ordered judgment. Many people never realize this, but this helps to keep you protected from collectors.
Validation is used to make a collection agency prove that the account is yours. Under the Fair Debt Collection Practices Act (FDCPA) a third party collection agency is required in the first written communication to provide you with the following information:
- the total amount owed by you
- the name of the creditor who the debt is owed to
- that unless the debtor disputes the validity of the debt within 30 days of receipt of the letter, it will be assumed the information is valid
- a statement that if the consumer notified disputes the debt in writing within the 30 day period mentioned above, the collection agency is required to obtain verification of the debts
- and a copy of any judgment against the consumer and mail a copy to the debtor.
Once a debt is disputed a collector is required to stop their collection efforts until the account is in fact validated.
Since most people don't know about this law, often bad practices by collectors are unchallenged, but during these hard times, writing a validation of debt letter to have credit card debt validation done is a great idea.
Here is a step by step look at how you can write a debt validation letter yourself.
Step 1 - Find Out if the Statute of Limitations Has Passed
Check with the laws in your state to see what the statute of limitations is on old debts. It can vary from 4-15 years, depending on where you live.
If the time for collection is over, then a letter can be written telling the company they are working to collect on an old account that has passed the statute of limitations and this is illegal.
If the statute of limitations has not passed, then you should write a debt validation letter.
Step 2 - Ensure You Have the Right Address
When you are going to write a validation of debt letter, make sure that you have the right address. This way they will be able to respond. Usually you can find it on notices they send trying to collect on the account.
Step 3 - Starting the Letter
If you're going to start the letter, consider looking first at a free debt settlement sample letter to help. To start out, put the date at the top, your name, and your address.
You'll also need to put in the name, the address, and the telephone number of the agency under your contact information. Also make sure that you put in the account number.
Step 4 - Ask for the Facts
In the letter, let them know you want the facts and the validation of the debts that they are saying that you owe. Ask for proof, showing the original contract along with your signature. Make sure they know you are not refusing to pay, but you want to have evidence that you are required to pay legally.
Step 5 - Await a Response
After you send the debt validation letter, you need to await a response. See if they are able to send you the right information to you. Without proving the debts, they cannot report you, collect, or sue you.
If they don't respond, send yet another letters within 30 days. If they do come back with debt validation, check with the original creditor to find out if this collection agency has the legal right to try to collect on this account.
Step 6 - Come Up With Your Next Move
If you write the debt validation letter and they don't validate the account, then you can write yet another letter. State that you are aware of the laws and that they are violating the law and need to stop collection attempts or they will be reported.
You need to contact all 3 credit reporting agencies as well to make sure this is removed from your credit report.
Writing A Debt Settlement Letter Step By Step Guide!
Return from Debt Validation Letter to Debt Settlement Companies
Return from Debt Validation Letter to Debt Elimination Program Reviews Home Page