You have had an extended day at your workplace, and simply wish to get home and relax. You stop and examine the mail before you can get home, and find out an unfamiliar envelope. If you open it, you want you had not. It is a collection letter from a collection agency-the very last thing you will need in this economy.
The best part is you do not have to panic. Right now there are measures you are able to have that were afforded to you by the Fair Debt Collection Practices Act.
Step One: Ask the Collection Agency to Validate the Debt
A collection agency does not have the proper to ask you to spend a debt until they have proved that you really owe it. Though the concern is on you making them provide you with that edit. The collection letter you received must have told you that in case you do not respond within thirty days, they’ve the proper to believe the debt is valid. That is the reason it is very important that you simply do not just disregard the collection letter, but rather reacts with a collection letter template word.
From it, you will have to consult the collection agency to present you with some kind of evidence you owe the debt. They have to offer you copies of the initial debt document or even in a number of instances, a print from previous statements coming from the first creditor. In case they cannot prove the debt is legitimate, the collection agency does not have the proper to continue trying as well as collect it. Be sure to send out the letter certified mail and have a return receipt requested so you will have evidence of the request of yours.
Step Two: Check the Statute of Limitations The next item you need to do if you get a debt collection letter is checking to determine if the statute of limitations has taught the debt. If it’s, the debt collector will still need the proper in an attempt to gather the debt, but will not have some legitimate remedies attainable to them, like wage garnishment, lawsuits or liens. The statutes differ from one state to another, and therefore are likewise different based on which kind of debt it’s. Look at your state Attorney General’s site to learn if the debt in question is old adequate to get passed the milestone.