When you are contacted by a debt collector in regards to an outstanding debt you don’t recognize, you may chalk this up to an error or mistake by the collector or original creditor. However, after learning the debt has been verified, you may wonder what your options are. The following blog explores what you should know about these matters, including what it means for a debt to be verified, and the importance of contacting a Los Angeles, California debt defense lawyer to help you explore your legal options.
What Is a Verified Debt?
A verified debt is simply one that, for all intents and purposes, appears to belong to you. Generally, when you are contacted by a debt collector, they must send you a debt validation letter. Essentially, this provides information to the debtor regarding the outstanding amount. This includes who the original debtor is, the current amount of the debt, what the interest rates are, and contact information to respond to the debt collector.
Unfortunately, in many instances, when a debt is verified, it means that it legally does belong to you, and you are ultimately responsible for paying the debt. If this is the case, you may want to work with an experienced attorney who can help you negotiate a settlement amount. Often, collectors will accept negotiated settlement amounts because it gives them the opportunity to recoup at least a portion of the funds without going to court.
What Should I Do if I Believe There Is Still an Error?
If you receive information regarding a debt that has been verified in your name but you have reason to believe this debt is not accurate or does not belong to you, it’s critical to understand your options. In general, the most important thing you can do is dispute the debt. This means you’ll need to send the collector a letter, in writing, to dispute the fact that you owe this debt. Once sent, the collector has thirty days to verify the debt, meaning they have collected information to prove that the debt is yours.
In the event that the debt collector verifies the debt and you are still sure that you do not owe it, it is in your best interest to connect with an experienced attorney. They can assist you in determining whether or not the information provided by the debt collector is accurate and help you fight this debt. Additionally, they can assist you in the event you believe this debt is the result of identity theft.
If you find yourself disputing a verified debt, working with the team at Los Angeles Legal Solutions is in your best interest. Our team understands how difficult these matters can be to navigate, which is why we will do everything in our power to help you fight for the best possible outcome. When you need assistance, do not hesitate to contact our firm today.
