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What Happens When A Collector Fails To Answer a Debt Validation Letter?
In order for debt to be managed legally, there are obligations on the creditor as well as the debtor. These laws were created in order to achieve fairness in these types of transactions.
Both sides must live up to their obligation. In most cases the consumer is unaware of the laws and protection afforded them to remedy what can be a traumatic impediment on their lives.
In a previous article, we covered the benefits of using a debt validation letter when you receive a notification from a debt collector. By law the collector has to notify you that you are entitled to ask for a validation of the debt within 5 days of contacting you about you owing money.
There are defensive methods that can be applied that are best implemented by a reputable company with a full understanding of the law. This may include notification letters sent to the collection company or response to a legal threat against you.
If they ignore you, you can sue them in small claims court for violations of the Fair Debt Collection Practices Act.
If you find yourself in these circumstances, there are reputable programs designed to help the consumer navigate through the process and have their debt eliminated. This will help you obtain a much needed fresh start and provide you with an understanding and a clear path forward.
As a point of note, let me remind you that the debt collector has limited number of days to respond to the debt validation. What the response should contain is proof that you actually owe the debt. As well as proof that they have the legal right to collect the debt. Remember they are collectors, and you never borrowed anything from them. They must also prove that they are licensed to collect debts in your state. Also, they need to provide the original contract you signed with the original creditor, or at least credit card receipts that you signed.
American Debt Enders is a unique “Debt Relief” company, dedicated to helping the consumer. We are consumer advocates. Our dedicated professionals and unique program called “Debt Dispute” utilizes the banking and consumer protection laws to help people eliviate their debt and get a fresh start
Five easy steps to become “Debt free”
1) Learn the law through talking with a reputable debt counsellor
2) Set a goal to be “Debt Free” within 12-36 months
3) Utilize the right company to manage and guide you through the process
4) Execute the plan
5) Become “Debt Free” and improve your credit score, allowing you to move forward to a new chapter in your life
Let us help you end the sleepless nights and create a new beginning!
As a final note, the collector cannot contact you to collect the debt while the validation process is on-going, so, be sure to monitor any calls you receive and log them. Since collection contact during this period is illegal, violations may be accrued under violation of the FDCPA.
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