Debt validation, the process of “invalidating” debt, is extremely useful in certain scenarios. Let’s say debt collectors have contacted you about a certain sum of money you owe. If you can’t recognize the debt, it’s possible that you don’t owe it, to begin with.
Debt collectors can often make mistakes or intentionally try to collect debts never owed. Unfortunately, many easy targets fall for these tactics. Those who don’t can successfully navigate the debt validation process and get their alleged debt knocked off.
In this blog, we’ll take a closer look at what this process entails. We’ll provide detailed insights so you can take the right course of action accordingly. Continue reading.
1. The Basics
Consumer protection laws require debt collectors to maintain updated, accurate and complete records. However, this isn’t always the case. When a person disputes their debt, they seek to invalidate it.
This process is also known as debt validation, as consumers attempt to prove that their debt cannot be validated. You will be required to work with a debt validation agency to dispute the validity of your debt.
This is a federal right granted to all individuals under the Fair Debt Collection Practices Act (FDCPA).
2. A Closer Look at the Process
To prove that your debt is invalid, you will be required to send a written request to your debt creditor. This must be done within 30 days of contacting the collection agency.
Make sure you send your validation request via certified mail and request the return receipt. This can be used as proof that the debt collection agency received your letter.
Once your dispute has been sent through, the agency must stop attempting to collect the alleged debt. They must stop sending emails, making calls, and reporting the debt on your credit report. In short, they cannot continue any debt collection activity without responding to your dispute.
3. How Can I Get Started?
At American Debt Enders, we create an individualized debt invalidation program for each client. Call us today to get started!
We’ll walk you through the basics and offer a closer look at our approach to debt resolution. If you’re looking for answers to one of the following questions, feel free to approach us:
- What are my alternatives to bankruptcy?
- What should I do if I can’t pay my debts and don’t qualify for a consolidation loan?
- What is the least expensive form of debt relief services?
- What are debt validation services?
- How can I become debt-free and only pay a fraction of my debt?
- Can I pay for my debt program with FDCPA violations by debt collectors money?
We provide detailed insights to each client to help them make the right decision for themselves.