What does validating a debt mean Camelive adutle
I am often asked, exactly what do you mean by Debt Validation? In simple terms, it requires that a creditor produce original documentation to support his demand for payment of the debt.Debt Validation is like many things–you know it when you see it. It is really amazing that after all these years and enforcement of this part of the Fair Debt Collections Act, how many collectors fail to provide validation, by the way, the original credit card agreement you signed when you received the credit card, is the actual contract.Buried in these rules is a section on the validation of debts that can serve as a guide on what it really means to validate a debt.Here is what the state says the validation of debts is.
That’s why when a debt collector sends you a notice of demand for a payment, for the first time, they are required to tell you that you have the right to “Have the debt validated”, and if you enforce your right by requesting it, they will send it to you in 30 days.Next thing you know, somebody with the nickname “Fats” shows up at your door looking to get paid on the loan you made with Vito.You tell Fats that you made a deal with Vito, and he never told you to pay Fats.So, unless Fats produces some proof that Vito told him to pick up the money for him, you will not pay.
You need Fats to produce some original documentation, not some made up copy.
If the creditor or debt collector cannot provide you with the requested documentation to prove the account and amount are true and accurate then take a copy of this article and the response from the collector or creditor to a local attorney and ask them to step in.