What is a debt validation notice?
A debt validation notice is a request sent by the consumer, or borrower, to the creditor or collection agency. The notice informs the creditor or collection agency that the consumer is aware of the debt and requests a verification that the debt is, in fact, owed by the consumer. It is important to note that the debt validation notice does not dispute the debt. In West Virginia, consumers have the right to request a debt validation in the event that a collection agency contacts them regarding a debt. The Fair Debt Collection Practices Act (FDCPA) requires the collection agency to provide proof that the debt is valid. The notice must be in writing and must include the name of the original creditor, the amount of the debt, and any additional information requested by the consumer. If the creditor or collection agency fails to provide the requested verification, then the debt must be deleted from the consumer’s credit report. Once the debt validation notice is sent, the creditor or collection agency is not allowed to contact the consumer for 30 days. This allows the consumer time to receive the verification and gives them an opportunity to dispute any incorrect information that may be included. It is also important to note that while the debt validation notice does not dispute the debt, the consumer does have the right to dispute the debt within 30 days of receiving it.
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