What is validation of debt?

Validation of debt is a legal process used in Illinois to ensure that creditors are collecting payment on a legitimate debt. Generally, a debt is validated when a creditor has provided a debtor with written proof that the debt is valid and that they are entitled to payment. The validation process is important for both creditors and debtors. For creditors, it ensures that they are collecting payment on legitimate debts. For debtors, it is important because it can provide a better understanding of the debt they owe, such as the amount due, any interest owed, and other fees or penalties associated with the debt. In general, a creditor must provide written proof of the debt within 30 days of requesting payment. This proof can be in the form of an invoice, statement of account, or other document. The creditor must also provide the debtor with an accounting of any fees or interest associated with the debt, as well as the address where payments should be sent. For a debt to be fully validated, the creditor must respond to any written requests from the debtor for additional information needed to verify the debt. Generally, this includes providing a copy of the original contract, loan documents, or other documentation. Once a debt is validated, the debtor must either make payment or challenge the debt in court. If a debtor believes the debt is not valid or the amount requested is incorrect, they may choose to dispute the debt in court. In this case, the creditor must prove the validity of the debt before any payment is due.

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