Why should I ask debt collectors to verify my debt?

When debt collectors are coming after you, they may use aggressive, frustrating, and annoying tactics to try and collect what you owe. Fortunately, consumers are provided with some protection from creditors under the Fair Debt Collection Practices Act. Under the terms of the act, consumers have a powerful weapon at their disposal. Consumers have the right to require that a debt collector verify the amount and validity of the debt they are accused of owing. To take advantage of this important tool, however, you must act quickly. Failing to request debt validation could be costly.

Reasons to Request Debt Verification From a Debt Collector

If you do not request debt verification in order to determine who the original creditor is, you may have a more difficult time determining whether or not you have grounds to dispute the debt. Requesting that a debt be validated can reveal the fact that the debt collection agency is missing vital information about the debt. For example, the agency may be trying to collect the wrong amount of debt, or may be trying to collect from you when the debt is really that of someone with a similar name. If you do not request that the debt be validated, you could miss an opportunity to reduce or eliminate the debt and the debt collection agency can assume the debt is valid. Similarly, if you do not request the original creditor’s name and address within 30 days of receiving the first collection letter, the debt collection agency can assume the debt is valid and can then continue its collection effort, taking advantage of all legal collection efforts against you.

Reasons to Demand Debt Collectors to Stop Calling

If you know the debt is not yours or it was paid off, you can send the debt collector a simple letter that demands the debt collector stop contacting you in any way since the debt is not owed. Send the letter by certified mail with return receipt requested or by overnight mail. If the debt collector contacts you to collect after the receipt of the letter, contact us.

When it comes to debt collection, time is of the essence. We encourage you to act quickly by contacting us today at (804) 282-7900.