No particular language is necessary for this type of report so long as the report clearly conveys the necessary information.
No particular language is necessary for this type of report so long as the report clearly conveys the necessary information.
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If you believe you already paid the debt, do not owe the debt, the amount is incorrect, or that it's not even your debt, you may send a written request to the debt collector to dispute the debt or receive more information.
Credit Reporting However, debt collectors cannot report false information about your debt. If you dispute a debt in writing with a debt collector, that debt collector must tell any credit reporting company that it has reported your debt to that you dispute the debt.
Collections accounts will generally stay on your credit report for up to seven years from the date they first became delinquent.
off is not necessarily the end of the road for a debt, though ? it simply means that it's no longer an active account on the creditor's books. The creditor is still legally allowed to pursue collection, file a lawsuit for the balance due, and report the debt on your credit report.
A judgment is a court order stating that you owe the debt collector money because of a lawsuit. You may have received a judgment because the court decided in favor of the debt collector in a trial, or because you did not respond to a lawsuit that was filed against you.
How do I collect on my judgment? You may collect the money owed you in one of two ways: either the debtor pays you voluntarily or you can execute on the debtor's property by getting a writ of execution from the judge.
The Plaintiff may execute the judgment, which is a court procedure to seize the Defendant's property or collect the money from the Defendant's bank account, PFD, or paycheck.
A debt collector must stop all collection activity on a debt if you send them a written dispute about the debt, generally within 30 days after your initial communication with them. Collection activities can restart, though, after the debt collector sends verification responding to the dispute.