Why is a debt verification letter required?
These letters are designed for consumers' safety. Prior to any money changing hands, collectors must prove that their debts are legal. Demanding verification of debt is a fast and legally known way to establish legitimacy before you move forward to negotiate with a debt collector. A debt collector acquires your request; they have to stop all kinds of conversation with you until they’ve responded with a debt verification letter . That signifies no phone calls, no letters and no reporting your debt to the credit bureaus. It is what a debt accumulator sends you to claim that you owe them money. This letter indicates to you the particulars of a specific debt, profiles what you owe, who you owe it to, and when they need you to pay back. Lawfully, a debt accumulator has to send you a debt verification letter between five days of their first contact with you. However if not, you would ask for one. Why? Since it supports you, decide if the debt is really yours and if there’s anythi...