What does validating a debt mean cheapest online dating site

Most of the time, receiving a phone call is a painless and even fun experience.But every once in awhile what you hear on the other end of the line can plunge your heart into your throat.By writing a formal request for validation, debtors exercise this legal right, which requires the creditor to provide proof that the debt is legitimate, that the collector has the right to collect the debt, and that the debtor is the person who legally owes the amount being collected.Some commenters warn people against using debt validation; debt collectors hate it, and may become hostile in their collection efforts.Debating voices on the internet have taken up the topic of debt validation. ” would seem to be a simple question, but readers are likely to find as many different answers as there are financial experts.We’re on record as firm believers in debt validation, as we outlined in our article “Always Start With a Debt Validation Letter.” Briefly, debtors have the right, under the Fair Debt Collection Practices Act (FDCPA), to demand debt validation when they hear from a debt collector.

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also contains a prohibition against the collection activities and communications during the initial 30 days of contact with the consumer overshadowing or being inconsistent with the consumer's right to dispute the debt or request the name and address of the original.

Some collectors and junk debt buyers move immediately to a lawsuit when they get a validation letter. Under the FDCPA, the collector must respond to the validation request before pursuing any more collection activity, including lawsuits.) We think it’s important to use debt validation only when you think the debt is illegitimate, or when the amount being collected seems far too large relative to your real debt.

If you are contacted about a valid debt that you know you owe, then debt validation will only make you a target for more vigorous collection activity. Returning to the primary question about debt validation—“Does it work?

Under the FDCPA, debt collectors (collection agencies or CAs) are required to send you a debt validation notice within 5 days of contacting you to collect a debt.

The notice informs you that you have the right to validate/dispute the debt within 30 days of receiving the letter.

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