How to Request Debt Verification and Avoid Paying for Unverified Debts? 

Dealing with debt becomes more stressful when you start receiving phone calls or collection notices for borrowings you do not recognize. Sometimes, the debts you are asked to clear may not belong to you. Debt collectors sometimes make mistakes or try to collect debts that are not legitimate.

This blog post covers all the essential things you should know about debt verification and how to use the information below to protect yourself from paying for unverified debts. Let’s start with understanding the debt verification process.

What is Debt Verification?

The need for Debt Verification occurs when an individual requests a debt collector or creditor to prove the authenticity of the debt they intend to collect. This is a legal procedure that the individual may exercise under the Fair Debt Collection Practices Act (FDCPA).

Here, the debt collector is responsible for providing proof of ownership and legal entitlement to the collection requested. This proof is often provided as documentation and evidentiary material, verifying that this person can collect the debt from you. It usually contains:

• The name of the original creditor

• The total sum due

• Credential showing ownership of the debt and confirming that the debt collector is authorized to collect it.

In the event the debt collector is not able to provide substantial evidence for the debt, all collection efforts must immediately be put on hold.

Why Should You Request Debt Verification?

There are a few important reasons why requesting debt verification is advantageous:

1.  Protect Yourself Against Identity Theft and Fraud

While identity theft is a common phenomenon, some debt collectors may wrongly reach out to someone to collect a debt. As a result, one can find themselves being pursued for a debt that does not belong to them. Requesting for verification ensures that the debt collector is attempting to collect from the right person.

2.  Confirm the Debt is Legitimate

Sometimes, debts are transferred from one collection agency to another and may get misplaced in the process. A debt verification request obligates the debt collector to prove the debt is legal and legitimately belongs to you. If there is missing information, you might not owe the money.

3.  Avoid Paying for Unverified Debts

If a debt collector fails to verify your debt correctly, they are not allowed to pursue the debt any further. By asking for verification, you ensure that you are not resolving a debt that does not belong to you. The collector is unable to prove his claim, so there is nothing he can do legally or affect your credit.

Steps to Request Debt Verification

After understanding the importance of requesting debt verification, let’s now learn about the steps for requesting debt verification:

Step 1: Send a Debt Verification Request

The first step in the process of debt verification involves submitting an official identification request to the debt collector. You should send this request within 30 days from the first time communicated by the debt collector. If there is a delay, the debt collector is free to pursue the debt further, assuming that the debtor agrees with the owed amount.

Your request ought to be straight to the point. While you do not need to write a lengthy explanation, do remember to request proof of the debt. It is the legal obligation of the debt collector to adhere to your request for verification, or else they will need to end any further collection activities.

Your request should include the following:

• A request for proof that the debt belongs to you.

• A request to receive information regarding the original creditor and the amount owed.

• A request to the debt collectors asking them to suspend collection efforts until the claim is verified.

Step 2: Keep a Record of Your Communication

Make sure to keep copies of any correspondence you have with debt collectors or creditors, such as letters and emails. Communications via phone are equally important, so remember to note the date and time alongside the representative’s name for your record. This is especially important when you are asked to prove that a verification request or a debt dispute clearly exists on your part.

If the collector does not reply to your request within 30 days, they cannot legally continue to collect debts from you. Maintaining well-documented records will safeguard your case if these debt collectors violate regulations.

Step 3: Review the Debt Verification Response

When the debt collector responds to your debt verification request, you must carefully check the provided information. You should be provided with the following details:

• Name of the original creditor

• The amount owed, including any interest or fees

• Document proving that the debt belongs to you

• Document showing that the debt collector has the legal right to collect it

You need to make sure that the provided details are matching your records. You have the right to challenge the debt if any of the above conditions are unmet.

The debt collector must suspend all attempts to claim the debt if the proof provided does not satisfy you or is inconsistent with your details.

Step 4: Dispute the Debt if Necessary

In cases where the proof of verification is insufficient, or the collecting party fails to provide the requested documents, you can dispute the debt. Once disputed, the law says that the debt collector must stop contacting you and reporting the debt to credit bureaus until it is verified. If the debt collector still pursues you without sufficient verification, you can seek legal assistance to protect your rights.

Request Debt Verification Today!

Requesting debt verification is a must for protection against invalid or unverified debts. You have the right to challenge any unfounded debts and figure out the entire process in a way that benefits you. If you find the process difficult or need additional help, working with a professional like Triumph Debt Relief can provide valuable assistance.

Read More: How to Choose the Right Debt Consultant for Your Financial Needs