Things You Should Know When You Receive Debt Collection LettersIf you fall too far behind on any of your financial obligations, you may receive debt collection letters in the mail. If you do, the federal Fair Debt Collection Practices Act (FDCPA) says that a debt collection letter must include the following information: • The amount of money that the debt collector wants to pay. • To whom you owe the debt. • The address of the debt collector. • The fact that you are legally entitled to dispute all or part of the debt. For example, you may disagree with the amount of the debt that the debt collector wants you to pay or you may not believe that you owe any of the money at all. • Your right to request the name and address of the original creditor related to the debt (the creditor who turned your debt over to collections) if the creditor is not the current owner of the debt. (Some creditors sell past due accounts to debt collectors.) You must put your request in writing and mail it no later than 30 days after receipt of the debt collector’s letter. It’s best to send the letter via certified mail with a return receipt requested and to keep in your files a copy of the letter and the receipt in case the debt collector does not respond to your request. If you want to dispute a debt because you don’t think you owe it or because you disagree with the amount of money that the debt collector says you owe, the FDCPA requires that you put your dispute in writing and mail your letter no later than 30 days of receiving the collector’s letter. Again, send the letter via certified mail, request a return receipt, and be sure to keep a copy of your letter and the return receipt in your files. If you dispute the debt, you can bolster the validity of your dispute by enclosing copies of any receipts, notices, letters, or other information that help prove your point. However, do not send copies of any cancelled checks you may have written to pay the debt unless you are able to completely obscure the account number on the checks. Otherwise, an unscrupulous debt collector could use the number to take money out of your bank account without your knowledge or permission. Get in touch with a consumer law attorney in your area if the letter the debt collector sends you in response to your verifi- cation request does not prove that you owe the debt or if the debt collector never responds to your request or refuses to provide you with written proof that the debt is yours. You may have the basis for a lawsuit against the debt collector. It’s important to know your rights when you are dealing with debt collectors! Our affordable ebook, Debt Collection Answers: How to Use Debt Collection Laws to Protect Your Rights, can help you. It not only explains all of your debt collection rights and offers helpful advice regarding how to negotiate with collection agencies, but also provides sample letters that you can use to help resolve any problems you may have with debt collectors. Posted March 2009
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