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Sample letter on how to restructure debt?
A debt restructuring letter should include some of the instances that make it difficult to pay the debt as it is. Some of the information to include are issues like unexpected accidents, loss of employment and divorce.
Can I request Debt Validation after making a payment to collection agency?
Yes, you are in fact still allowed to ask for validation. However, the validation letter is primarily used as a defense in court if it goes that far. By making a payment, you have implicitly assumed responsibility for this debt, and records of that payment may in fact serve as proper validation. Moreover, you are most likely going to receive a letter stating the original balance and account holder. But don't be discouraged, there are many other things you may be able to find that were done in error of proper procedure, such as the "mini-miranda" statement not being included. My advice is to read and become familiar with the FDCPA, FCRA, and Fair Credit Billing Act. From there, review the collection activity, and of course even after a payment, you are able to dispute the debt for the whole or part amount. Which means, you can continue to insist on documentation regarding the life of the debt, even though you have implicily assumed responsibility. Good luck
Is there a sample letter to notify debtors of bankruptcy?
There are letters that attorneys use to notify creditors of a debtors bankruptcy. This letter states that the individuals have filed bankruptcy and the creditors are to cease all contact and attempts to collect their debt.
What do you do if a collection agency continues to try to collect a debt that you do not owe?
A collection is required to notify the person of their right to have the debt validated. If you did not request a confirmation within the specified time (30 days) the debt is presumed valid and collectible. You will need to present proof that this is not your debt, such as cancelled check showing it was paid. Or whatever possible to substantiate your claim. When receiving a debt notification the consumer should ALWAYS request validation.
When is the debt reported to the credit bureau?
Normally 30 days after it is sent to a collection agency if you don't ask for validation or 180 days which is considered charged off account.
When would one receive a debt settlement letter?
One would receive a debt settlement letter online on OVLG's website. OVLG is a company that offers free sample debt settlement and debt validation letters for creditors and credit bureaus.
Where can you find a sample letter to send to a creditor regarding the validity of a debt?
The consumer need not worry about legalities when requesting a debt be validated. Samples of several type of dispute and validation letters can be found at http://www.debt-n-credit-letters.com
Need help to write a hardship letter?
Sample of a harship letter to the IRS for debt
Can a lawyer acting as a debt collector file for a judgment in court during the 30 day validation period and after the defendant has requested the validation of the debt within the allotted time frame?
A lawyer acting as a debt collector can usually file for a judgment in court even during the 30-day validation period. However, if the defendant has requested validation of the debt within the allotted time frame, the debt collector usually cannot seek a judgment until the validation process is complete and the debt has been verified.
Are back billing statements legal proof or validation for credit card debt in MI?
Validation must include the following: ~Proof that they own the debt legally or have been legally authorized to collect it from you. ~A complete payment history documented from your original creditor. ~A copy of the original loan contract that you signed with your creditor. So no you did not get validation of debt. Send the collection agency a letter telling them that you still dispute the debt because they still have not proved the debt is yours, and unless they can provide valid proof by means of signed contract, then they must remove the debt from your credit report and stop attempting to collect.
Sample letter on how to restructure debt?
A debt restructuring letter should include some of the instances that make it difficult to pay the debt as it is. Some of the information to include are issues like unexpected accidents, loss of employment and divorce.
Should a sign a non judgment stipulation without debt validation?
NO
We had a vehicle repossessed then the company sold the debt to a debt collector from another state will they be able to collect?
They operate the same as if the debt collector was in your state. I would ask for a Debt Validation letter from the new debt collector.Many times when debt is sold the supporting documents are not sold with it. If they cannot produce the original documents you may be in a situation where they cannot sue you and have to remove the deragatory from your credit report.P.S. I am not a lawyer.
Do debt collectors have to send you a written statement validating the debt?
Upon your written request for validation, yes. This is covered under the Fair Debt Collection Practices Act (FDCPA).
Can you dispute the validity of a debt at any time?
The FDCPA says you have 30 days from the date of the initial letter you are sent to dispute the validity. This is known as the validation period. I don't believe many agencies would not deal with a dispute at any time of the debt though.
What is a letter of collection from a collections law firm?
A collection letter from a la firm is the same as a collection letter from any other debt collection agency. The Supreme Court has held that lawyers that participate in the collection of debts are considered "debt collectors" under the Fair Debt Collection Practices Act," and therefore must comply with all of its mandates. That means the correspondence you first receive from them must identify the creditor, the amount of the debt, and advise you of your right to dispute and seek validation ofthe debtwithin the 30 days following the receipt of the letter.
Can I request Debt Validation after making a payment to collection agency?
Yes, you are in fact still allowed to ask for validation. However, the validation letter is primarily used as a defense in court if it goes that far. By making a payment, you have implicitly assumed responsibility for this debt, and records of that payment may in fact serve as proper validation. Moreover, you are most likely going to receive a letter stating the original balance and account holder. But don't be discouraged, there are many other things you may be able to find that were done in error of proper procedure, such as the "mini-miranda" statement not being included. My advice is to read and become familiar with the FDCPA, FCRA, and Fair Credit Billing Act. From there, review the collection activity, and of course even after a payment, you are able to dispute the debt for the whole or part amount. Which means, you can continue to insist on documentation regarding the life of the debt, even though you have implicily assumed responsibility. Good luck
