Handling Bad Debt Variety Agencies

Are you being harassed by a debt collection agency? Not sure what the next move of yours should be? When you are getting letters and phone calls from debt collectors you probably feel as the walls are closing in and you’re not having enough options. Fortunately for you there are lots of lines of defense at your disposal and we’re going to read the first and most important one; the debt validation sales letter… The debt validation letter is the central letter you are able to mail to an agency since it causes them to prove that you own the debt they are attempting to collect. In the event you do not know, these agencies do not play by the rules and they are not about to tell you exactly what the rules are; even if they’re supposed to.

Therefore here’s what you are going to do. You are planning to compose a letter asking them to validate the debt in issue is yours. Tell them they’re incorrectly reporting negative information on to the credit bureau which isn’t yours and demand they offer proof which the account is yours via signed agreement with your signature on it. Send the letter by certified mail so you understand that they got it.

The main reason you need to contend with them by mail is because nearly all of them have your info stored on a computer and so in nearly all cases they won’t be prepared to present you a message of the initial contract. Having your info on a computer system is called evidence of debt, not confirmation of debt. The collection agency needs to demonstrate you own the debt or even it has to be eliminated from the credit report of yours. The collection agency has thirty days to investigate the claim of yours so you’ll have to be on top of them during this process. Don’t hesitate to follow-up with them every ten days or even so and when you do, be sure things are accomplished via certified mail. Also during this thirty day period is it unlawful for the debt collection agency to communicate with you while your case is being examined, so if they do eventually call and write you do not be reluctant to report them with the FTC.

The very last phase in this operation is to follow-up with the collection agency to make certain that the negative item that was not yours has been eliminated from the file of yours with the credit bureaus. Send the collection agency a letter of confirmation asking them to supply proof that the merchandise have been eliminated from your credit report and “cc” the three major credit bureaus as well. By law they are needed to confirm that negative inaccurate information has been removed from the account of yours so once again if they neglect to do this, don’t be reluctant to send a follow-up letter and report them with the FTC.

Last year there was over 120,000 issues filed to the FTC against bad debt collection agencies; they realize you don’t understand the rights of yours and take advantage of it.


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