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To make sure that a debt collector is legit and avoid debt collection scams, keep an eye out for the following signs. Watch your mailbox. A validation letter is one way to make sure you’re ...
Real debt collectors must provide essential details during their first contact with you. This is called “debt validation” and is regulated under the Fair Debt Collection Practices Act (FDCPA).
“Debt collectors are mandated by law to disclose the amount due, the name of the creditor and the right of the debtor to verify or dispute the debt,” said David Clark, lawyer and partner at ...
2. Know What Collectors Can and Cannot Do to Collect Debts. Ignoring a debt collection agency won’t make the amount you owe disappear. In fact, it could make your financial problems even worse ...
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Debt evasion is the intentional act of trying to avoid attempts by creditors to collect or pursue one's debt. At an elementary level, this includes the refusal to answer one's phone by screening one's calls or by ignoring mailed notices informing the debtor of the debt. In more advanced cases, this includes misleading the creditor to believe ...
The safest way to pay a debt collector is with a method that provides proof of payment, such as mailing a check with a return receipt or using a secure online payment portal provided by the collector.
Debt collection is big business and because of its potential impact, the government has established very strict rules about how it should be done. Clearly, as we wrote in our story about the ...