Sample Debt Validation Letter for Debt Collectors.
If you’re unable to find any inaccuracies on the collection entry on your credit report, next you should write the collection agency and demand that they validate the debt. Under section 809 of The Fair Debt Collection Practices Act, collection agencies are required to validate debts they are attempting to collect if you request that they do so.
The letter should explain that the collection agency is trying to collect a debt, identify the collection agency, identify the creditor and state the amount of the debt. The letter, according to the Fair Credit Debt Practices Act, should also inform the consumer that the debtor has the right to request validation of the debt. Validation includes identifying the creditor and the amount of the.
The Fair Debt Collection Practices Act (FDCPA) gives you the right to force a debt collector to stop communicating with you. But while telling a debt collector to stop contacting you may provide some temporary relief, it can also: keep you in the dark about what the debt collector is doing, and; increase the chance that the debt collector will sue you. You Can Stop Debt Collectors from.
If the collection agency first contacts you by phone, insist that they contact you in writing. Do not give personal or financial information to the caller until you have confirmed it is a legitimate debt collector. The following sample letters will help if you’re experiencing common problems that may come up with debt collectors. I do not owe this debt. I need more information about this.
Write the number of days that the debt is now overdue as of the date of this letter. Include information about the history or reason for the debt so that the borrower or customer can recall the situation. For instance, if the company owes money from an invoice for the sale of computer parts, provide a full description of the items shipped, date the order was fulfilled and shipment tracking.
Collection Letter Templates Introduction. Most accounts receivable professionals barely have time to make all the phone calls necessary and send out every email, let alone make an individualized collection letter for every step of the collections process. However, following up every few weeks with a personalized letter requesting action from a non-paying customer truly helps to collect payment.
Generally, the advice on sending a debt validation letter on a valid debt is premised on making sure that the collection entity who is attempting to collect from you is legitimate. There are ways to accomplish this without exposing yourself to the risks that are associated with formally requesting validation on a valid debt. I explain them in detail at the end of this article.