Validate Initials Request

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How to Validate Initials Request

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The key is to be thorough in your request for debt verification. In your letter, ask for details on: Why the collector thinks you owe the debt: Ask who the original creditor is and request documentation that verifies you owe the debt, such as a copy of the original contract.
The letter should be sent certified mail (so you can have proof of receipt) and include your account number, the date they contacted you, the method they used to contact you, and a statement requesting that they provide validation of the debt. It doesn't have to be long, as you can see from this sample letter.
Send a letter to the collection agency asking for proof you owe the debt. If the collection agency doesn't provide the proof: You don't have to pay and. It will come off of your credit report.
The identity of the debt collector, including their address and phone number. Proof that the debt collector has legal authority to collect the debt. The name, address, and phone number of the original creditor (if not the one who contacted your client)
The term “debt validation letter" refers to a letter that an individual sends to their creditor or collection agency requesting proof that the debt in question is valid and not outside the statute of limitations for collecting the debt.
Debt verification is a consumer's legal right to request information from a debt collector about the debt that is being collected. Debt collectors must abide by federal laws in responding to your request for verification.
In lieu of this ruling, a consumer has the ability to send a letter to his creditor or collectors, requesting the confirmation of information reflecting his penalized account. This letter is referred to as debt verification letter, wherein details included for verification usually include a debtor's name and address.
According to the above FD CPA Section, Debt Validation is defined as the debt collector contacting the original creditor to affirm the debt amount being requested is correct. Junk debt buyers are not in the habit of obtaining, upon a consumer's debt validation request, documentation directly from the original creditor.
Under the Limitation Act 1980 a creditor has six years to chase most unsecured unpaid debts, or twelve years for some mortgage shortfalls. This 'limitation period' starts from the time of your last payment or acknowledgement of the debt, not the total length of time you've been making payments.
You have the right to force the debt collector to prove you owe the money. Debt validation is your federal right granted under the Fair Debt Collection Practices Act (FD CPA). To request debt validation, you must send a written request to the debt collector within 30 days of being contacted by the collection agency.
If you don't pay your bank loan, credit card, or other debt, the lender may decide to send your file to a collection agency. They want to collect because that's how they get paid. If you have the money, you may assume it's in your best interest to pay them, so they stop calling you and so that it clears up your credit.
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