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Debt collectors send debt validation letters show what debts you owe, the amount, and to whome you owe it to.
While a debt collector contacting you can be stressful, it’s important to pause and remember your rights as a debtor. Before paying the debt collector, verify that the debt is actually yours. The debt collection industry is subject to mishaps and mistakes, with some individuals being asked to pay debts they don’t owe.
That’s why you should receive a debt validation letter from the debt collector proving the debt is yours. If you still don’t recognize the debt, you can send a debt verification letter requesting more information or disputing the debt.
In this article, we’ll discuss the importance of debt validation letters and what information they should include. We’ll also provide a debt verification letter sample and a free template to help you get started.
Key takeaways:
Table of Contents:
A debt validation letter is written correspondence that debt collectors are legally obligated to send you that provides information about the debt they’re collecting. The letter should include details about the debt, the original lender, and the debt collector’s authority to collect the money.
The creditor should send a debt validation within five days of their initial contact with you. If you don’t receive a debt validation letter, the debt collector could be an illegitimate person attempting to scam you. Therefore, you should avoid providing sensitive information to the debt collector until you’ve verified they’re legitimate.
According to the Consumer Financial Protection Bureau (CFPB), the debt validation letter should include:
If after receiving the debt validation letter and you’re still unsure of whether the debt is accurate, you can send a debt verification request to the debt collector. A debt verification request is a letter that you, as the consumer, can send to the debt collector to ask for information about the debt they’re collecting.
Typically, you have 30 days to send your debt verification request after receiving the debt validation letter. If you don’t send the letter within this time frame, the debt collector will assume the debt is valid and legally continue their efforts to collect.
It’s important to understand the difference between a debt verification letter and a debt validation letter:
When writing a debt verification letter, it’s important to be clear and concise. State that you’re disputing the debt and list what information you’re requesting from the debt collector.
Below is a debt verification letter sample and a template to help you get started. Remember to use your own information where there is bolded text.
[Name]
[Address]
[Today’s date]
[Name of the debt collector]
[Address of the debt collector]
Re: [Debt account number, if it was provided to you]
Dear [Name of the debt collector]:
I’m replying to your communication regarding a debt you’re attempting to collect. You reached out to me via [phone/mail] on [date] and provided the following account details:
I am informing you that I dispute the debt you’re claiming I owe.
If you have reason to believe that I’m still responsible for this debt, kindly provide the following details to ensure I have all the necessary information:
If you’re providing this data to a credit bureau, please report that I’m disputing this debt.
Sincerely,
[Your name]
There isn’t a specific time frame in which creditors must reply to a debt verification request. However, if you send the debt verification letter within 30 days of receiving the validation letter, they must cease all collection efforts until they respond to your letter and provide verification.
If the debt collector doesn’t respond to your debt verification request, it could be due to one of the following reasons:
If you sent the debt verification letter within the 30-day time frame, the debt collector cannot attempt to collect until they provide the information you requested. If the debt collector continues with attempts to contact you, you can submit a complaint with the CFPB, your state’s attorney general’s office, or the Federal Trade Commission.
Debt validation and verification letters can help you exercise your rights and avoid potential debt collection scams. If the debt collector fails to verify your debt, be aware that it may be wrongfully hurting your credit. Check your credit report for inaccurate information and report errors to the credit bureaus to potentially remove the accounts from your credit report.
It’s important to monitor your credit so you can get alerted if inaccurate information is hurting your credit. Try ExtraCredit® for free today for help managing your credit.
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