What is a debt validation notice?

A debt validation notice is a document that is sent to the debtor (the person who owes the money) by a debt collection agency, or other entity, that is attempting to collect a debt. The notice is intended to give the debtor notice that a debt is being claimed against them. The collection agency must provide the debtor with certain information when sending out a debt validation notice. This information includes the amount of the debt, the date it was incurred, and the creditor’s name and address. In addition, the notice must contain a statement informing the debtor that they have a right to dispute the debt within 30 days of receipt of the notice. If the debtor chooses to dispute the debt within the 30 day period, the collection agency must provide written confirmation that includes the name of the creditor, the amount of the debt, and the date it was incurred. The debt validation notice also notifies the debtor that they have the right to a written description of the debt if the information provided is not sufficient. In Delaware, debtors have the right to sue for damages if a debt collection agency fails to provide the required information in the debt validation notice. The damages awarded can be up to $500 per violation. This is intended to protect debtors from being taken advantage of by debt collectors who fail to provide the required information.

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What is a debt validation notice?

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