To avoid making payments to creditors or debt collectors on accounts that you are not required to, I strongly suggest sending validation of debt letters. These letters require original creditors or third party debt collectors to provide you with accurate and legal proof that you do in fact owe them money. Without sending a validation of debt letter, you run the risk of being part of the abuse that is common in the credit card debt collection industry.
Some consumers will attempt to get validation information from their creditor or third party debt collector over the phone. This never works. For a creditor or debt collector to be legally bound into validating all information on your account, there must be proof of your request for validation in writing. Without written proof it will be easy for the creditor or debt collector to say that they were not notified of the request for validation.
When preparing to send out validation of debt letters, be sure to distinguish between whether you are sending the letter to an original creditor or third party debt collector. Knowing who you are sending the letter to, can help you adjust the letter to your specific situation for better results.
Keep two additional principles in mind when requesting information using validation of debt letters. You need to first request all the information that is legally required to be validated and then request for even more. Creditors and debt collectors have been known to provide additional information so as to avoid any potential future lawsuits.
After learning about validation of debt letters some over eager consumers go out and whip up what they think will work as a validation of debt letter and send it to their creditor or debt collector. A few weeks later they are often found wondering why they did not get the same results as I have described. The answer is simple, these are fairly complex letters to compose, do not do it on your own if you do not have the proper experience.
Finally, to add to the complexity of validation of debt letters, there are multiple formats to write the letters in depending on how far along you are in the credit card debt collection process. It is for your best interest to send validation of debt letter as soon as you receive the notice from your creditor or collections agency. If the letters are not sent in time, a large part of their effectiveness will disappear. Do not let this happen to you!
Want to discover more information about validation of debt letter, then visit Kente Wallman’s site on how to pick the best debt validation letter for your needs.