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Debt Validation Q & A
Late Debt Validation
I got a collection letter six months ago. Can I still validate the debt? Get Answer »
Credit Repair and Debt Validation
Debt validation is a powerful and highly recommended credit repair tool. The Fair Debt Collection Practices Act (FDCPA) requires collectors to validate a debt if you request that they do so within 30 days of receiving a collection notice. They must provide proof of their legal right to collect along with some reasonable documentation of the amount due.
The FDCPA itself does not specify that collectors must document the amount due, but case precedent indicates that at a minimum the collector provide an account statement from the original creditor. In the case that the collector cannot properly validate the debt they must cease all collection activity and reporting of the debt.
This credit repair tool should be employed liberally. A surprising number of collections are not valid. This means that they have been previously paid, sold to another collector, belong to someone else, or rendered invalid in some other manner. Before parting with your money, or even considering negotiating a debt, make sure that it is legitimate!
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