What does validating a debt mean
What’s not so easy to guess is what happens next in the panic that’s sure to take hold.
Here’s what to do if you get a call from a debt collector – or rather, what you should do: Do not automatically agree that the debt is yours.As mentioned above, you should not immediately confirm ownership of the debt.Here’s why: Note: If you dispute the debt within 30 days, the debt collector must cease attempts to collect until they’ve mailed you verification of the debt or a copy of the judgement to you.If you don’t dispute the debt, the debt collector can assume that you owe and continue attempts to collect – Before proceeding talks with the debt collector, there are a few reasons you would want them to first prove that the debt in question is in fact yours.Most of the time, receiving a phone call is a painless and even fun experience.But every once in awhile what you hear on the other end of the line can plunge your heart into your throat.
That’s certainly what can happen when a debt collector calls.
Here are a few things that may run through your mind in that moment…
If the debt is yours, then you can agree to it after you’re sure the debt collector is legitimate.
If the debt is not yours, saying that it is can lock you into a battle that makes it nearly impossible to expunge the debt from your credit report.
So, before you do anything else, you’ll need to gather some more information.
This includes verifying that the debt collector is legitimate, deciding if you are able to repay the debt, and, if you don’t think the debt is yours, sending the collector a Whether you know you’re behind on a debt account or the call comes as a total surprise, you can walk into a landmine if you’re not careful during that first phone call.