Debt Collection Notice: Immediate Steps You Need To Take
A debt collection notice is sent to inform you that a creditor has turned over a past due account to their agency to collect on an unpaid past due account. When you receive such a notice, there are some very important steps you need to take. VerificationYou need to verify the the debt is actually owned by the collection agency calling and/or writing to you. Before sending any monies, or initiating payment arrangements, you want to know if the agency who is demanding payment from you in fact owns the debt. Also, make sure the debt recovery agency is licensed.Ask For It In WritingRequest that the collection agency send you written proof that you owe the debt, and for the exact amount stated. Ask for this by sending a certified letter. It is very important to create a paper trail of all communications, rather than just telephone communications.Once you receive notice, you have 30 days to dispute the debt. If you fail to act within 30 days, the collection agency can treat the debt as valid and pursue it further. Your request should also include proof of the original debt and the creditor. Debt collection guidelines demand that they stop pursuing you further until they provide this proof. Legally they can seek to collect it after proof of the original debt. If the debt doesn't belong to you, and they can't provide the necessary proof to the contrary, write a certified letter asking that they stop contacting you about the alleged debt. After receiving this letter, a debt recovery agency can only contact you once more to tell you of any further legal action it plans to take, if any. Receving a debt collection notice is a serious matter and requires your immediate attention. Failing to do so could damage your credit rating. Return to Collection Scams.
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