Financial Updates

People troubled with debt often use methods like debt settlement but you might want to
try debt validation first. In case you are wondering  what is validation of debt  read on to know more.

What is validation of debt?

Validation of debt is when you try to find out whether the collection agency that is asking
you for money has the legal right to ask for it. You may not be sure that the debt being
asked from you is yours. In that case you have full rights to ask the collection agency or
collector for proof that you owe the debt.

The agency needs to provide the following
1. Proof that the original creditor has assigned the debt to the collection agency.
2. Some account statements from the creditors.
The right to dispute the debt and receive proof of it is part of consumer rights under the
FDCPA.With debt validation you avoid paying on debts which you don't owe at all.