Debt validation is the procedure in which you can confront the claim of collection agency that you owe money. You should be aware about your rights when you validate your debts. The debt validation process will prove when you don’t owe the money. Though, you may contact with a collection attorney to complete the process.

Know the following when you validate your debts

• Payment history

The payment history will enable you to find out your payment habits. It will also indicate the manner in which the collection agency has calculated the payments.

• A copy of the original contract between you and your original creditor

Getting a copy of the original contract will enable you to find out whether you owe money or not.

• You get proof that your account has been sold off to the collection agency

You get to know that in reality your debt account has been sold off to the collection agency.

As per the Fair Debt Collection Practices Act, the debtor or the consumer has to be served a written notice that should contain the following information –

• The amount of debt you owe
• The name of the original creditor
• The notice will also contain a clause that within 30 days of receipt of the notice, if the debtor doesn’t dispute the validation of debt, the debt will be considered as valid.
• The debt collector is also required to send a statement that in case the consumer disputes the debt, within a span of 30 days, the debt collector will be required to provide details of the manes and addresses of the original creditors in case, the current creditor is different from the original creditors.

Useful resources:

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