Debt Validation
Debt validation refers to the time period which is usually 30 days from the date of first communication from the debt collector to the consumer. During this period, the validity of a debt can be disputed by a consumer. It is sometimes used for verification of debts. But they are different.
The notice to the consumers about their validation rights can be provided either verbally or in a written statement. This is generally sent to the consumers in the form of the statement in a collection letter. The consumers should also be notified in writing about their validation rights within five working days of being first contracted by a debt collector. An Oral statement should be sent to the debt collector during this 30 day period of time stating that the debt in dispute is more than enough to overcome the assumption that the debt is valid. Also a written request should be necessarily sent to the debt collector requesting verification of debt within this 30 day period of time.