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Yes you can and make sure to get the dates when these debts occur and all of the contact numbers so that you can communicate about the matter. Sometimes 3rd parties get there hands on it and may not have complete and accurate info. Keep in mind to be kind because you never know if the debt is accurate and you may need to negotiate a few things down the road.
What else can I help you with?
Accounting-what is a collateral security?
Lying alongside a debt
Is an accouts receivable account in accounting a debit or a credit balance account?
Accounts receivable has a debt balance as normal accounting balance because it is an asset of company.
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).
How accounting provide relevant data?
Accounting provides the business with data such as debt, growth of the company and the effect of added investment. Accounting data can allow the decision makers in a company to make decisions that will not endanger the financial direction of the company.
What is paid in full as a journal entry for accounting?
"Paid in full" means that the debt has been met. It's settled.
If your credit card debt was sold to another company and that company is suing you can you request to see the original contract agreement?
Yes. Anytime you have doubts about the validity of a debt, you should ask for confirmation. Since this is not the original creditor, they have to by law, give you a full accounting of the debt. The fact that you are being sued, is even more important for you to get the details in writing. The creditor has thirty days from the time they receive your request, to comply. Send your request by registered mail, get and keep the receipt, that's very important.
How can I request a validate debt letter to confirm the accuracy and legitimacy of a debt?
To request a validation of debt letter, you can send a written request to the creditor within 30 days of receiving the initial debt notification. The letter should ask for proof of the debt, including details such as the amount owed and the original creditor. This can help confirm the accuracy and legitimacy of the debt.
Why is debt a burden on the treasury?
Treasury debt is a liability in the accounting books. This means they will have to re-pay that debt at some point.
Accounting-what is a collateral security?
Lying alongside a debt
What if the collector ingnores a request to validate the debt?
Without valid debt there can not be liability. In amity.
Can you provide me with a debt validation and verification letter?
A debt validation letter is a written request asking a creditor to provide proof that a debt is valid and belongs to you. A debt verification letter is a written request asking a creditor to confirm the details of a debt, such as the amount owed and the creditor's information.
Can you provide me with a request for debt validation letter?
Here is a concise request for debt validation letter: Your Name Your Address City, State, Zip Code Date Debt Collection Agency Name Debt Collection Agency Address City, State, Zip Code Subject: Request for Debt Validation Dear Sir/Madam, I am writing to request validation of the debt you claim I owe. Please provide me with detailed information regarding the debt, including the original creditor, the amount owed, and any relevant documentation. I also request that you cease all collection activities until the debt is validated as per the Fair Debt Collection Practices Act. Thank you for your prompt attention to this matter. Sincerely, Your Name
How can I request validation of debt?
To request validation of a debt, you can send a written letter to the creditor within 30 days of receiving a collection notice. Ask for proof of the debt, such as a copy of the original agreement or itemized statement. This can help ensure the debt is accurate and valid.
Accounting where would you put a bad debt entry?
In the Journal Proper
How can I request a debt validation letter from a collection agency?
To request a debt validation letter from a collection agency, you can send a written request within 30 days of being contacted by the agency. In your letter, ask for proof that the debt is valid and provide your contact information. Keep a copy of your letter for your records.
What is the process for requesting a letter of validation of debt?
To request a letter of validation of debt, you need to send a written request to the creditor within 30 days of receiving a debt collection notice. The letter should ask for proof that the debt is valid and provide your contact information. The creditor must then provide documentation verifying the debt.
What information should be included in a debt verification letter?
A debt verification letter should include details such as the amount of the debt, the name of the creditor, the date the debt was incurred, and a request for validation of the debt.
