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Debt Validation: Make the Collection
Agencies Prove You Owe Them
by Lisa Phillips
updated: January 18, 2010
Agencies Prove You Owe Them
by Lisa Phillips
updated: January 18, 2010
Debt Validation Documents
Collection agencies must provide proof you owe the debt to the original creditor. That proof
can be in the form of account statements from the original creditor, payment history from the
original creditor, copy of the original signed loan agreement or a credit card application.
Account statements usually fill these requirements. What you are basically trying to get them
to prove is the following:
Many unscrupulous collection agencies and junk debt buyers will simply send you a printed
form from their computers of the debt they say you owe. The reason for this is they have no
original proof. Oftentimes, debt collectors will purchase charged off debts, for pennies on the
dollar, in bulk. The collection agency simply gets basic information about you and the amount
of debt on a spreadsheet with many other names, address, and social security numbers of
other consumers. They typically have no other back up documents from the original creditor.
A computer generated statement with the original creditor's name, your name and the
amount the debt collector says you owe is not sufficient for debt validation. These collection
agencies realize they have no original documentation to prove the debt is yours and will often
resort to asking you to "help them" resolve the matter. After you request debt validation, you
may get a letter from the debt collector requesting you send in an old statement from the
original creditor or cancelled check of a payment you made. DO NOT FALL FOR THIS TACTIC!
Debt validation requires the debt collector provide proof and documentation from the original
creditor, not you.
Never acknowledge you owe the debt. Make the collection agency or junk debt buyer prove
you owe the debt. Avoid getting on the phone with any collection agency, junk debt buyer or
collection agency law firm. Deal with them via U.S. Mail only.
Page: 1 2 Next
Collection agencies must provide proof you owe the debt to the original creditor. That proof
can be in the form of account statements from the original creditor, payment history from the
original creditor, copy of the original signed loan agreement or a credit card application.
Account statements usually fill these requirements. What you are basically trying to get them
to prove is the following:
- The collection agency legally owns the debt and is authorized to collect it from you.
- The full amount of the debt is documented by the original creditor.
- The original creditor can provide a copy of the original signed legal contract.
Many unscrupulous collection agencies and junk debt buyers will simply send you a printed
form from their computers of the debt they say you owe. The reason for this is they have no
original proof. Oftentimes, debt collectors will purchase charged off debts, for pennies on the
dollar, in bulk. The collection agency simply gets basic information about you and the amount
of debt on a spreadsheet with many other names, address, and social security numbers of
other consumers. They typically have no other back up documents from the original creditor.
A computer generated statement with the original creditor's name, your name and the
amount the debt collector says you owe is not sufficient for debt validation. These collection
agencies realize they have no original documentation to prove the debt is yours and will often
resort to asking you to "help them" resolve the matter. After you request debt validation, you
may get a letter from the debt collector requesting you send in an old statement from the
original creditor or cancelled check of a payment you made. DO NOT FALL FOR THIS TACTIC!
Debt validation requires the debt collector provide proof and documentation from the original
creditor, not you.
Never acknowledge you owe the debt. Make the collection agency or junk debt buyer prove
you owe the debt. Avoid getting on the phone with any collection agency, junk debt buyer or
collection agency law firm. Deal with them via U.S. Mail only.
Page: 1 2 Next
A collection agency contacts you regarding a debt. How do you know
this is your debt and that you actually owe the collection agency?
What if the debt has already been paid or the Statute of Limitations
has expired?
this is your debt and that you actually owe the collection agency?
What if the debt has already been paid or the Statute of Limitations
has expired?
Related Topics:
More Resources
Rebuild Scores
Tips to improve and rebuild credit
scores over time.
Get Deletions
Get a deletion, paid collections do
not raise your credit score.
Collection Agencies
Learn how to effectively deal
with Collection Agencies and stop
the harassment.
Add Positive Credit
Learn how to add positive credit to
your reports to improve scores
Tips to improve and rebuild credit
scores over time.
Get Deletions
Get a deletion, paid collections do
not raise your credit score.
Collection Agencies
Learn how to effectively deal
with Collection Agencies and stop
the harassment.
Add Positive Credit
Learn how to add positive credit to
your reports to improve scores
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Debt buying is a growing,
lucrative industry full of
mistakes, errors and deceit.
Debt validation forces a
collection agency, debt
collector and even a law firm in
the business of debt collection
prove you owe the debt they
are requesting you pay. It is a
powerful weapon against
collection agencies and debt
collectors.
lucrative industry full of
mistakes, errors and deceit.
Debt validation forces a
collection agency, debt
collector and even a law firm in
the business of debt collection
prove you owe the debt they
are requesting you pay. It is a
powerful weapon against
collection agencies and debt
collectors.
Debt validation also requires a debt collector provide proof of the
amount they say you owe, including any added fees and
interests. Debt validation applies to any law firms which engage
in the practice of debt collection as well as all collection agencies.
How Debt Validation Works
According to the FDCPA you have the right to request a collection
agency validate the debt they are trying to collect. Essentially,
the collection agency must show that you owe the "original
creditor" the debt, not the "collection agency" attempting to
collect the debt.
amount they say you owe, including any added fees and
interests. Debt validation applies to any law firms which engage
in the practice of debt collection as well as all collection agencies.
How Debt Validation Works
According to the FDCPA you have the right to request a collection
agency validate the debt they are trying to collect. Essentially,
the collection agency must show that you owe the "original
creditor" the debt, not the "collection agency" attempting to
collect the debt.