What if I never received a debt validation letter?
If you don’t receive a validation notice within 10 days of the first contact, request one from the debt collector the next time you’re contacted. Ask for the debt collector’s mailing address at this time as well, in case you decide to request a debt verification letter.
How long do debt collectors have to respond?
Unfortunately, a debt collection agency can take as long as they want to respond to your request to validate an existing debt. I would say, generally, the usual range is between 1–30 days or they never respond.
What happens if I don’t acknowledge a debt?
If you continue to ignore communicating with the debt collector, they will likely file a collections lawsuit against you in court. Once a default judgment is entered, the debt collector can garnish your wages, seize personal property, and have money taken out of your bank account.
How long does a creditor have to respond to a debt validation letter?
Here’s the important part: You have just 30 days to respond to a debt validation letter with your debt verification letter. If you don’t dispute the debt within 30 days, the debt is assumed valid. That means the debt collector can continue to contact you. You can still send a dispute after 30 days.
What if a collection agency never contacted me?
If you find a collection account that you don’t recognize listed, you can dispute it with the credit bureau(s) reporting it, preferably in writing. If the credit reporting agency cannot confirm it with the source (the company reporting it), within 30 days, in most cases, it must be removed.
What happens if a collection agency refuses to validate debt?
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. If they ignore you, you can sue them in small claims court for violations of the Fair Debt Collection Practices Act.
What creditors should not tell?
3 Things You Should NEVER Say To A Debt Collector
- Never Give Them Your Personal Information. A call from a debt collection agency will include a series of questions.
- Never Admit That The Debt Is Yours. Even if the debt is yours, don’t admit that to the debt collector.
- Never Provide Bank Account Information.
When do I need a debt validation letter?
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 that you owe the money.
When to send a letter to a debt collector?
The Consumer Financial Protection Bureau recently posted a set of sample letters that you can use to tell debt collectors to leave you alone or to make them prove that you really owe them money. Use this letter if you don’t recognize a debt that you’re receiving calls or mailings about.
What to do if you don’t recognize a debt?
If it’s not your debt, but the collector now has the right personal information for you, it could be harder for you to dispute the debt later. Refuse to discuss the debt until you get a “validation notice.”
What to do if a debt collector ignores you?
That way, you can have the items removed by contacting the credit bureaus. If they ignore you , you can sue them in small claims court for violations of the Fair Debt Collection Practices Act. Sometimes, after you have sent a validation request, the collector will send you back a “verification of the debt”.