I don’t know about you, but credit scores and credit repair can be an absolute nightmare! One tiny move in either direction can effect your score for the good or the bad. There is a law that not a lot of consumers know about, and of which fewer take advantage!
15 U.S.C. §1692g is the Validation of Debts section of the U.S. Code. You can read the entire code HERE but here are some highlights.
If you get a call from a debt collector and you believe it is not your debt, you have the right to contact them and tell them you wish to have validation of the debt. If you do this within 30 days of their initial contact with you, they have to cease trying to collect it until the debt collector obtains the verification and you’ve received it.
Case in point: i had a collector call on a debt that I knew wasn’t mine. He wasn’t very nice and I simply stated that if he would “mail to me the complete validation showing that this is my debt than I’ll be happy to take a look at it”. I received a letter a few days after and here’s a snippet from that letter:
“this letter is in response to (that) dispute and/or request for validation in accordance with 15 U.S.C. § 1692g of the Fair Debt Collection Practices Act. Unfortunately, we are unable to provide the requested documentation within a reasonable time frame and as such (collector) has ceased all collection activity. Further, we have requested the account be deleted from any consumer credit reporting agency files to which we may have submitted information”
I was so excited to get this letter. You bet I’ll be watching my credit report this month and next to make sure it falls off.
You have rights as a consumer and knowing those rights simply positions you to make smart choices. Don’t be angry with the collectors – just tell them you want validation that it is your debt and you want it in writing.
For more information and assistance, we recommend http://www.gocreditmatters.com Ask for Renee and tell her Kurt, from ORCVirtual, sent you.