Often junk debt buyers have little information about the debts they own.
They purchase a portfolio of debts often with little more than basic information about you and the alleged debt.
This notice should be in writing letter letting you know you have the right to dispute the validity of the debt within 30 days.
The FDCPA allows the collector to include the debt validation notice in the initial communication.
What if the debt has already been paid or perhaps the Statute of Limitations has expired on the debt and you cannot be legally sued for the debt?
Debt validation forces a collection agency, debt collector and even a law firm in the business of debt collection prove you owe a debt.
After receiving your dispute, the debt collector cannot contact you until it has provided you with the requested information.If you don’t dispute the debt in writing within 30 days, the debt collector has the right to “assume the debt is valid.” If you dispute the debt within 30 days, the debt collector must stop its attempts to collect the debt from you until it provides your validation.For debt validation, your request must be submitted in writing. How do you know the debt is yours and that you actually owe them?Make debt collectors and junk debt buyers provide proof you owe them.