Don't Think You Owe? Ask for Debt Validation (2024)

FAQs

How do you respond to debt validation? ›

Once you receive the debt validation information, you have 30 days to dispute the debt in writing. Failing to request verification in writing or within this time period can affect your ability to assert your rights under the debt collection rule.

While debt validation requests can be a useful tool, they are not effective at resolving the issue. In most cases, creditors and collection agencies are able to provide the necessary documentation to prove the validity of the debt.

Your evidence could include any of these things: a receipt for the payment. a copy of the debt statement showing final payment. a letter from the creditor saying the debt is paid.

If you are struggling with debt and debt collectors, Farmer & Morris Law, PLLC can help. As soon as you use the 11-word phrase “please cease and desist all calls and contact with me immediately” to stop the harassment, call us for a free consultation about what you can do to resolve your debt problems for good.

Debt collectors may ask questions to verify your identity, but you should never provide sensitive or financial information, at least not until you've verified the debt and that it's not a scam.

If the debt collection agency doesn't respond to your request for a debt validation letter, it is violating the Fair Debt Collection Practices Act (FDCPA). This is the federal law that governs third-party debt collection practices. You can report this violation to the CFPB and/or your state's attorney general's office.

There's no set time limit in which collectors must respond to a debt verification request you send them. However, they're required to send a debt validation letter within five days of first contacting you.

Debt collectors don't want you to know that you can make them stop calling, they can't do most of what they tell you, payment deadlines are phony, threats are inflated, and they can't find out how much you have in the bank. Furthermore, if you're out of state, they may have no legal recourse to collect.

Some of these letters have strict deadlines and your creditor can take further action if you do not reply. Ignoring them is not a good idea. Make sure your creditors have your current address. You might not know about court action if you do not get important letters.

Contact the creditor if you are sure the debt is not yours.

Ask them for proof if they insist you do owe the debt.

How can I settle my debt without paying? ›

Outside of bankruptcy or debt settlement, there are really no other ways to completely wipe away credit card debt without paying. Making minimum payments and slowly chipping away at the balance is the norm for most people in debt, and that may be the best option in many situations.

Insolvent is a person who has no money to pay off his debts.

How long does it take for a collector to respond to a request? There's no set time limit in which collectors must respond to a debt verification request you send them. However, they're required to send a debt validation letter within five days of first contacting you.

Dear debt collector, I am responding to your contact about collecting a debt. You contacted me by [phone/mail], on [date] and identified the debt as [any information they gave you about the debt]. I do not have any responsibility for the debt you're trying to collect.

You must fill out an Answer, serve the other side's attorney, and file your Answer form with the court within 30 days. If you don't, the creditor can ask for a default. If there's a default, the court won't let you file an Answer and can decide the case without you.

Next Steps

After you have mailed your request, debt collectors should send you any documentation they have that you owe the debt. Or, they may stop all collection efforts if they don't have enough information to prove you owe it. If they send documentation, review it carefully and compare it to your own records.