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Tips on handling a collection notice
God Bless.
Carlos Cruz
Debt Credit Learning Center
Carlos Cruz
Debt Credit Learning Center
If you receive a debt collection notice the last thing you want to do is ignore the letter.
As a consumer, you have the right to dispute the validity of the debt but you must submit
your dispute within 30 days of receiving the letter and your dispute must be in writing.
If you choose to ignore the debt collection notice, the debt will be considered as valid and
collection procedures will move forward.
Here are some tips on how to handle such a collection notice.
As a consumer, you have the right to dispute the validity of the debt but you must submit
your dispute within 30 days of receiving the letter and your dispute must be in writing.
If you choose to ignore the debt collection notice, the debt will be considered as valid and
collection procedures will move forward.
Here are some tips on how to handle such a collection notice.
- Request that documents be provided to prove the debt
- If you do not owe the money or if the debt does not belong to you say so in your letter
- If you have filed for bankruptcy, make sure that you inform the collection agency
- If the debt is over 7 years old, it cannot be reported to the credit bureau
- If the debt is over 6 years old, you cannot be sued
- Never agree to pay for a debt that is not yours
- Never provide your credit card or bank account information for the purposes of having
the collection agency debit your payment
- Record any telephone communications with the collection agency
The debt collection notice is only the
beginning of the collection process. If
you choose not to respond to the
debt collection notice, you are only
making matters worse.
The collection agency will be forced
to assume that you are not willing to
cooperate and will take the steps to
report your debt to your credit
bureau.
If the debt is valid and you owe the
money, communicate your intentions
to the collection agency in writing.
If you choose to call them by phone,
beginning of the collection process. If
you choose not to respond to the
debt collection notice, you are only
making matters worse.
The collection agency will be forced
to assume that you are not willing to
cooperate and will take the steps to
report your debt to your credit
bureau.
If the debt is valid and you owe the
money, communicate your intentions
to the collection agency in writing.
If you choose to call them by phone,
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it is wise to record the conversation between you and the debt collector.
Do not agree to any terms over the phone. If the collector agrees to re-payment terms, you
should insist that the terms be sent to you in writing and signed by an authorized
supervisor or manager.
Once the agreement is to your satisfaction, be sure that you fulfill the terms as agreed.
Do not agree to any terms over the phone. If the collector agrees to re-payment terms, you
should insist that the terms be sent to you in writing and signed by an authorized
supervisor or manager.
Once the agreement is to your satisfaction, be sure that you fulfill the terms as agreed.