Debt Validation: Do you have to pay ?

It happens all the time. Debt collectors try to collect on debts that consumers have no knowledge of or never owed in the first place. So, what do you do when a bill collector demands payment in full on a debt that you never knew existed? You need to request a validation of debt.

A validation of debt is a request for proof that the collection agency that is contacting you owns the debt/or has been assigned the right to collect the debt on behalf of an original creditor. A validation of debt also includes a complete payment history, starting with the original creditor, and a copy of the original signed loan agreement or credit card application. This may be a debt you really owe or possibly a debt that was sent to collections by mistake. Either way, debt collectors can be very unapproachable. It is important to remember that you also have rights. According to the Fair Debt Collection Practices Act, Paragraph 809, - Validation of Debts:

"(a) Within five days after the initial communication with a consumer in connection with the collection of any debt, a debt collector shall, unless the following information is contained in the initial communication or the consumer has paid the debt, send the consumer a written notice containing:

(1) the amount of the debt;

(2) the name of the creditor to whom the debt is owed;

(3) a statement that unless the consumer, within thirty days after receipt of the notice, disputes the validity of the debt, or any portion thereof, the debt will be assumed to be valid by the debt collector;

(4) a statement that if the consumer notifies the debt collector in writing within the thirty-day period that the debt, or any portion thereof, is disputed, the debt collector will obtain verification of the debt or a copy of a judgment against the consumer and a copy of such verification or judgment will be mailed to the consumer by the debt collector; and

(5) a statement that, upon the consumer's written request within the thirty-day period, the debt collector will provide the consumer with the name and address of the original creditor, if different from the current creditor.

(b) If the consumer notifies the debt collector in writing within the thirty-day period described in subsection (a) that the debt, or any portion thereof, is disputed, or that the consumer requests the name and address of the original creditor, the debt collector shall cease collection of the debt, or any disputed portion thereof, until the debt collector obtains verification of the debt or any copy of a judgment, or the name and address of the original creditor, and a copy of such verification or judgment, or name and address of the original creditor, is mailed to the consumer by the debt collector. (c) The failure of a consumer to dispute the validity of a debt under this section may not be construed by any court as an admission of liability by the consumer.

The information presented in this article only covers some of the more important aspects of debt validation. It is important to do your research and fully understand your rights and obligations prior to attempting any type of communication with a debt collector.

Alan Barnes IAPDA Certified Debt Arbitrator President and CEO of Debt Regret http://www.debtregret.com

---

Google News Updated : Tue, 07 Oct 2008 08:49:19 GMT Red Sox squeeze past Angels, advance to ALCS - Washington Post Red Sox squeeze past Angels, advance to ALCS Washington Post - 1 hour ago BOSTON (Reuters) - The Boston Red Sox beat the Los Angeles Angels 3-2 on Monday at Fenway Park to advance to the American League Championship Series for the fourth time in six years. Rays, Red Sox will play for pennant Detroit Free Press Relentless Rays dominate ALDS MLB.com New York Times - FOXSports.com - Sports Network - Newsday all 2,394 news articles Publ.Date : Tue, 07 Oct 2008 07:48:05 GMT New prenatal test may be less risky than amniocentesis - San Jose Mercury News ITV.com New prenatal test may be less risky than amniocentesis San Jose Mercury News - 6 hours ago By Lisa M. Krieger Building on the latest developments in DNA science, Stanford University researchers have designed a prenatal genetic test that appears to be just as accurate - but much safer than current methods like amniocentesis - by using a ... Safer prenatal Down's syndrome test found in US Reuters Blood Tests Ease Search for Down Syndrome New York Times Bloomberg - WebMD - Telegraph.co.uk - The Missoulian all 175 news articles Publ.Date : Tue, 07 Oct 2008 02:10:40 GMT UPDATE 1-Qantas jet hits turbulence from Singapore; 30 hurt - Reuters ITV.com UPDATE 1-Qantas jet hits turbulence from Singapore; 30 hurt Reuters - 1 hour ago SYDNEY, Oct 7 (Reuters) - Over 30 people were injured, some with broken bones and lacerations, when a Qantas passenger jet flying from Singapore to Perth struck turbulence on Tuesday and had to make an emergency landing at a remote Australian airport, ... Mid-air incident forces Qantas flight to land just after takeoff guardian.co.uk 40 hurt in mid-air jet 'incident' in Australia CNN International Bloomberg - The Press Association - BBC News - Flight International all 153 news articles Publ.Date : Tue, 07 Oct 2008 07:46:41 GMT 'Saturday Night Live' is buzzworthy again, thanks to Tina Fey as ... - New York Daily News Sydney Morning Herald 'Saturday Night Live' is buzzworthy again, thanks to Tina Fey as ... New York Daily News - 31 minutes ago Once upon a time, TV viewers would have had to stay up late to watch Tina Fey do her Sarah Palin routines on "Saturday Night Live. Alive from New York, Fey's Palin Paces SNL E! Online Palin may appear on ‘SNL MSNBC Boston Herald - Reuters - Washington Post - New York Times all 402 news articles Publ.Date : Tue, 07 Oct 2008 08:17:55 GMT Supreme Court opens term with cigarette marketing case - Los Angeles Times Canada.com Supreme Court opens term with cigarette marketing case Los Angeles Times - 1 hour ago The public lines up outside the Supreme Court on the first Monday in October, the traditional start of the court’s term, when justices hear oral arguments. Supreme Court Opens Term With a Tobacco Fraud Case New York Times Suit on Tobacco Ads Sparks Feisty Debate Washington Post USA Today - CNN - The Associated Press - Daily Press all 467 news articles Publ.Date : Tue, 07 Oct 2008 07:01:27 GMT Nobel Prize awarded for AIDS, cervical cancer research - Los Angeles Times Times Online Nobel Prize awarded for AIDS, cervical cancer research Los Angeles Times - 1 hour ago Luc Montagnier dedicated his award to AIDS sufferers and predicted results on a "therapeutic vaccine" for the pandemic within four years. 2 AIDS researchers receive Nobel Prize Chicago Tribune Work tied to HIV, cancer earns scientists Nobel Prize Detroit Free Press People's Daily Online - International Herald Tribune - Philadelphia Inquirer - Hartford Courant all 1,117 news articles Publ.Date : Tue, 07 Oct 2008 07:01:27 GMT Scores homeless after Tibet quakes - CNN Xinhua Scores homeless after Tibet quakes CNN - 44 minutes ago (CNN) -- Nine people were killed in the pair of earthquakes that struck Tibet, China's Ministry of Civil Affairs reported on Tuesday, lowering the toll of 30 that had initially been reported. Government officials head to quake site in Tibet Xinhua Schools closed for safety after Tibet quake Reuters UK Aljazeera.net - United Press International - The Associated Press all 732 news articles Publ.Date : Tue, 07 Oct 2008 08:04:47 GMT Make Money Online RSS to HTML

PARLOT::Ebooks, Scripts, Websites, and more...

Adsense websites

Debt Consolidation Versus Debt Negotiation

Debt consolidation versus debt negotiation are two options that are... Read More

Secrets to Why Debt Reduction is So Vital for Your Financial Health

Living with debt is never a good idea if you... Read More

Drowning in Debt? Tips and Tricks for Getting Out of Hot Water with Creditors

Do you, like millions of other Americans, feel like you're... Read More

Whatever You Do....Dont Save Money!

No, that's not a misprint. Even though falling interest rates... Read More

Free Quick and Easy Money Saving Tips ? Part 2

Although many consumers would argue differently saving money doesn't have... Read More

Take Careful Consideration Before Filing Bankruptcy

Filing bankruptcy is not fun! It is a last resort... Read More

Is Independence Overrated?

Happy Independence Day from The Money Motivator!If you don't celebrate... Read More

5 Ways to Get Out of Debt

It has been said that everyday more and more people... Read More

Debt Elimination 3

Planning To Achieve Debt EliminationOnce you have started the process... Read More

Save Money When Going Out

It seems as though whenever we go out for the... Read More

Bankruptcy Interest Increases as Deadline Approaches

Congress recently passed sweeping legislation that will significantly reform American... Read More

Going Bankrupt in the World

It all starts by defaulting on an obligation: Money owed... Read More

4 Simple Ways to Solve Your Debt Burden

Getting Behind Getting behind on your debts owed can be... Read More

Bankruptcy Reform

There are some new bankruptcy laws going into effect before... Read More

New Bankruptcy Legislation May Make it Harder to Find an Attorney

The recently passed Bankruptcy Abuse prevention and Consumer Protection Act... Read More

How to Reduce Your Debt in 5 Easy Steps

If you have incurred substantial personal debt, consider these options:... Read More

The Last Debt Solution Should Be Bankruptcy

A debt solution like bankruptcy should really only be used... Read More

Taking The Plunge Into Bankruptcy

Bankruptcy is one of the most difficult things a person... Read More

Questions to Ask a Credit Counseling Service about Debt Relief

Debt relief is a topic on a lot of consumers'... Read More

The Human Side - Debt Stress

In all the technical discussion you hear about credit... Read More

Are You Beating Up On Yourself About Debt?

When you hear the word "debt", whats the first thought... Read More

Debt is The Master of Souls

Wholeness requires separation. In order for you to experience yourself... Read More

How Do You Spell Debt Relief?

Of all the problems possible in a marriage, finances cause... Read More

Christian Debt Consolidation ? Feel Comfortable About Managing Your Debt

Many Christians feel uncomfortable with the notion of being in... Read More

Debt Collectors: Men or Mice?

Who are these people anyway? They viciously harass you and... Read More