Did you know that when a debt collector contacts you they have five (5) days from that initial contact to provide you with a bunch of information about the debt that they are attempting to collect on? The communication, which is typically in writing, must include the amount of the debt, the name of the credit that you owe the debt to, and the fact that you have thirty (30) days to dispute the validity of the debt. In essence, the debt collector will be under the impression that the debt is valid unless you dispute it within the thirty (30) day time frame.
If you do dispute the debt, the debt collector is required to send you information that will provide you with the ability to both identify and verify the debt in question. In addition, they must provide you with the name and contact information for the original creditor as long as you send in the dispute on time. When you dispute the debt by requesting a verification or validation of the debt, the debt collector must stop all collection related activity until they send you the verification information. This rule also applies to lawyers that are attempting to collect a debt for a client.
The difference between a lawyer and a debt collector in this scenario is that the lawyer can either start or continue a lawsuit against you. If the debt collector fails to follow any of these rules, they are technically committing debt harassment. That means the debt collector is actually violating your rights, and you can sue them in a court of law for damages and up to an additional $1,000, plus attorney fees. Even if you owe the debt, meaning it’s accurate, it is still important to dispute it or ask for verification. That way you will know exactly whom you are dealing with.
For example, when an original credit can’t settle the debt with you, they will typically charge it off of their books. That means they are selling the account to a third party for pennies on the dollar. The debt collection agency that purchased the debt on the cheap makes their money by getting as much as possible from you. Your account may very well be sold multiple times. That means the current account holder may need to conduct a ton of research on the account when you dispute it. The bottom line here is it will buy you some time.
If you feel that you are being treated unfairly by a creditor or collection agency, please contact us immediately. Legal Rights Advocates, Inc. is a consumer advocate law firm that focuses on consumer rights protection services across the Unites States. We have well over twenty-five (25) years of combined experience helping consumers that are experiencing Debt Collector Harassment, Social Security Disability issues, and a whole lot more. LRA is truly your consumer rights advocate. We take great pride in the fact that our job is to protect you from deceptive and or abusive debt collection practices.
LRA is an accredited member of the Better Business Bureau, and we have well over 500 Five Star Rating Reviews online from across the United States. Our goal is to assist you each and every step of the way regarding your rights for consumer protection. Please call us today for more information at 855-254-7841 or click here to visit our website. We look forward to working with you.
