How A Debt Validation Letter Helps Keep Collectors In Check
"Debt validation letter." The phrase in itself sounds intimidating. Even a bit frightening.
But the truth is … a debt validation letter is a WONDERFUL and HELPFUL debt relief tool for you!
Its purpose? There are several very positive debt help reasons for creating a debt validation letter, but the first and foremost reason is to keep debt collectors in check -- and away from you with their bothersome and often harassing phone calls and letters.
What Is a Debt Validation Letter?
Are you sure you really owe the debt that you are being asked to pay?
When and why -- were these charges made?
Could someone else have used your credit card number (let’s face it, many of us don’t typically inspect every item on our monthly statements)?
Many people have the same name; is it really you (and not someone else with the same first and last name) that owes the debt in question?
If you do indeed owe the debt, it may be an old debt and past the legal statute of limitations. That means you do not have to pay, as the time period has passed the statute of limitations.
That all said, a debt validation letter is a letter you create and send off to any creditor – or any collection agency – that is saying you owe money. In a basic nutshell, the letter you create asks for specific proof of the debt.
Additionally, upon receipt, the letter legally stops any contact from the creditor or collection agency and puts the work on them as they look into, and collect, proper proof that the debt they say you owe is truly valid.
Keep in mind that you need to send the letter within 30 days of the first time you were contacted by the collector in order for them to pause their collection attempts.
When Do You Need to Write a Debt Validation Letter?
Oh, those constant phone calls and letters about debt -- they are so annoying and so frustrating!
Do you even owe that debt? What are those debt collectors referring to; you probably notice there is not a lot of information regarding the debt except the amount they say is owed.
That’s when you need to write a debt validation letter. Proof of debt is a must! As is the clarification of said debt. So, if you have any of the above questions – or others – about a creditor or collection agency communication, writing your vital debt validation letter is in order.
Important reasons include:
- You must be shown that you legally own the debt
- You need to ensure that the debt is actually a valid one
- Find out exactly who you owe the money to – if you indeed owe the money, of course
- Find out how long the money has been owed for
- Press “pause” on the constant communication (or any communication!) from the debt collector while they do what’s needed to gather all the information requested in the debt validation letterol>
Ready to Write That Letter? Debt Validation Templates Are There For You!
We are pretty certain that at this point you are asking yourself, “How do I even begin to write a debt validation letter?”
Worry not! You don’t have to write the letter at all. There exists a plethora of legal, very usable, and very easy debt validation letter templates for you to choose from - and utilize for your needs. All you need to do is fill in your particular debt collection details and information. (You can breathe that sigh of relief now -- Hooray!)
Check out these terrific and popular websites featuring debt validation letter templates to use:
Debt Validation Letter FAQs
- Several stages exist in any debt “lifecycle.”
- The very first stage in a debt-related issue: the debt in question is passed along to a collection agency
- Once a collection agency is involved, numerous phone calls, letters, and other harassment type paths begin
- Whether the debt is yours or not, once a collection agency becomes involved it is highly likely your credit report will be negatively affected
- You are in control. Create and send your debt validation letter and get a break from annoying communications – and the proof of the debt – while the collection agency does their work and research
- In numerous cases, debt collection agencies do not have all of the requested validation information on your supposed debt. Then the case is closed. This is why it is vital you create and send a debt validation letter!
Debt Knowledge Is Debt Power
As with any other life situation, having a solid understanding of the issue at hand will better help you resolve the issue. Knowledge is always power.
A debt validation letter is your knowledge tool and your protection tool.
When debt collectors are at your door, there is no need to feel helpless. Empower yourself with financial and debt issues know how … and turn the table around on collection agencies that are on your back and affecting your life! There are laws in existence designed to protect you from often unfair debt collection (ways). Since debt collectors count on the fact that you are unaware of these laws, they have free reign to violate the laws, and to harass you.
Sending the letter to collectors that are bothering you forces them to show proof that you actually owe the debt and forces the collectors to show you all the documents related to the debt.
No proper documents? No legal right to ever contact you again!
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