Validating a debt
The federal government passed FDCPA to protect consumers from harassment and unfair practices by collection agencies.Among other protections, it states that they cannot call at unreasonable hours and must stop contacting an individual if they inform them they do not wish to be contacted.Ask for the debt collector’s mailing address at this time as well, in case you decide to request a debt verification letter.The validation letter might leave you with more questions than answers.When the original creditor gets tired of trying to collect the money, they sell the debt to the second party in the process: the debt collector.Debt collectors specialize in collecting debts – they call and send letters demanding payment.Here’s how to understand your debt validation letter and what to do if you need a debt verification letter, including where to find sample letters.Collectors are required by Fair Debt Collection Practices Act to send you a written debt validation notice with information about the debt they’re trying to collect.
There are three main parties in the debt collection process.
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