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Tips for disputing a debt

On Behalf of | Jun 10, 2022 | Debt Collection |

Debt is one of the most challenging hurdles to get over. However, just because a debt collector contacts you does not mean you owe them any money. According to debt.com, 49 percent of complaints to the Consumer Financial Protection Bureau are claims about debts not owed.

Collection agencies and credit-tracing agencies are not infallible. Keep reading for some tips on disputing debt collections.

Tell the callers to stop

Your first step is to tell collectors to stop calling you. People make a big mistake once agencies start calling by ignoring the calls. Asking them to stop will relieve a lot of stress and get the ball rolling on your case.

Do not share information

Like many legal issues, sharing too much information is a mistake. Anything you say to a debt collector on the phone, through text or email might hurt your disputation case.

Request details about your alleged debt

You have a legal right to the information about your alleged debt. If you request the details within five days of the first phone call, the collector must provide you with the debt owner, the amount and contact information for the original creditor.

Get your free credit reports

Every primary credit reporting agency can provide you with one free credit report every year. Contact Equifax, Experian and TransUnion to receive your information. This is the best way to investigate potential errors. Find out when the alleged debt originated and compare the claim to your reports.

Disputing debt collectors feels impossible at first. However, do not assume they are perfect because they have access to more significant resources. Remain calm and request the information you have a legal right to see.