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(The following is for educational purposes only, and it should not be construed as legal advice. PayingPaul.Com makes no guarantees about the accuracy of any information included here. For legal advice, please consult an attorney or lawyer in your state).
Debt Validation Letters
Under the Fair Debt Collection Practices Act (FDCPA), a consumer is reserved the right to challenge the validity of any debt being pursued by a collection agency. The purpose of this provision is to ensure that consumers do not get hounded for debt that they do not actually owe, so when a debt collection agency receives a debt validation letter, they are legally obligated to honor it and provide written verification of both who the original creditor is and the amount owed. Unfortunately, what constitutes a debt validation is nothing more than verifying that what is being demanded is “what the creditor is claiming is owed.” Some courts have interpreted this provision of the FDCPA much more strictly, so what qualifies as a legitimate debt validation depends largely on the nature of the dispute.
When a debt is under dispute, a creditor is obligated to cease all collections activities. Likewise, any debt that is disputed must also be reported as such to the credit bureaus under the Fair Credit Reporting Act (FCRA).
Note: A consumer can send a debt validation letter at any time, but the FDCPA provision can only be invoked in the event that the debt is disputed within 30 days of the first contact from the debt collector. Moreover, the debt can only be disputed with third-party collection agencies and law firms, not credit card companies, hospitals, etc.
Here’s a sample debt validation letter.
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Date:
From:
To:
Re: Debt Validation
Original Creditor:
Acct. Number:
Social Security #:
To whomever it may concern:
In accordance with federal and state law, the debtor hereby serves written notice that the above referenced debt is disputed, and that verification of the debt or a copy of a judgment, if any, should be provided to the debtor.
In addition, please provide the name and the account number of the original creditor if different from that referred in this document.
Request is made that there be no communication or attempts to communicate with me at my residence and/or or place of employment. Any further communications, whether written or oral, may be made by mailing a letter to:_________________
Request is now made that I, _______________, be notified of any specific remedies for which creditor or its agents intend to invoke, and the date the remedy will be invoked.
Sincerely,
Signature:_____________________
Print Name: ___________________
- - - - - - - - - - - - - - - - - - - - - - -
Debt Validation Letters
Under the Fair Debt Collection Practices Act (FDCPA), a consumer is reserved the right to challenge the validity of any debt being pursued by a collection agency. The purpose of this provision is to ensure that consumers do not get hounded for debt that they do not actually owe, so when a debt collection agency receives a debt validation letter, they are legally obligated to honor it and provide written verification of both who the original creditor is and the amount owed. Unfortunately, what constitutes a debt validation is nothing more than verifying that what is being demanded is “what the creditor is claiming is owed.” Some courts have interpreted this provision of the FDCPA much more strictly, so what qualifies as a legitimate debt validation depends largely on the nature of the dispute.
When a debt is under dispute, a creditor is obligated to cease all collections activities. Likewise, any debt that is disputed must also be reported as such to the credit bureaus under the Fair Credit Reporting Act (FCRA).
Note: A consumer can send a debt validation letter at any time, but the FDCPA provision can only be invoked in the event that the debt is disputed within 30 days of the first contact from the debt collector. Moreover, the debt can only be disputed with third-party collection agencies and law firms, not credit card companies, hospitals, etc.
Here’s a sample debt validation letter.
- - - - - - - - - - - - - - - - - - - - - - -
Date:
From:
To:
Re: Debt Validation
Original Creditor:
Acct. Number:
Social Security #:
To whomever it may concern:
In accordance with federal and state law, the debtor hereby serves written notice that the above referenced debt is disputed, and that verification of the debt or a copy of a judgment, if any, should be provided to the debtor.
In addition, please provide the name and the account number of the original creditor if different from that referred in this document.
Request is made that there be no communication or attempts to communicate with me at my residence and/or or place of employment. Any further communications, whether written or oral, may be made by mailing a letter to:_________________
Request is now made that I, _______________, be notified of any specific remedies for which creditor or its agents intend to invoke, and the date the remedy will be invoked.
Sincerely,
Signature:_____________________
Print Name: ___________________
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