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The average American has over $90,000 of debt , and many struggle to manage this number. Therefore, many people find themselves encountering collectionagencies at one point or another. Unfortunately, much of what people “know” about the debt collection industry relies more on myths than facts. How do you mitigate this?
A statement that the debt collector will provide to the consumer, within 30 days, the name of the originalcreditor if different than the debt collector. If a company manages a large volume of consumer debt, it takes considerable resources to follow up with each debtor in writing.
Finally, the notice must contain “a statement that, upon the consumer's written request within the thirty-day period, the debt collector will provide the consumer with the name and address of the originalcreditor, if different from the current creditor.” Southern Oregon Credit Servs, Inc. , 1692g(a)(5). at § 1692g(b).
The first step, if you have paid the full collection account, settlement, or have been making regular on-time payments, is to mail the collectionagency a “ goodwill letter ” that explains your situation. Ask the CollectionAgency to Validate the Debt. Anything else that appears to be inaccurate.
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