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I am requesting that you provide verification of this debt. Please send the following information: The name and address of the original creditor, the account number, and the amount owed. Verification that there is a valid basis for claiming I am required to pay the current amount owed.
Clearly state that you are writing a judgment proof letter and explain the purpose of the letter, which is to demonstrate your inability to pay the judgment. Provide a brief explanation of your current financial situation, including any income, assets, or debts you may have.
Generally, you should send a debt validation request if you're contacted by a collection agency and you don't recognize the debt. Send a validation request within 30 days of receiving contact from a collection agency, otherwise, they'll assume the debt is valid and can legally continue to contact you about it.
A letter of demand is a demand for payment from a debtor or defendant. It is usually the first step in a legal dispute case. A letter of demand will outline the breaches of the law, foreshadow the legal action and consequences of not paying.
Being judgment proof, also called ?collection proof,? is not permanent. Judgments can be valid for many years, and creditors can continue to try to collect what the judgment allows long after they win a lawsuit against a delinquent borrower.
Dear [Creditor], I have enclosed my final payment for my account [account number for the debt] with this letter. This letter signifies that my debt has been paid in full on [date], including any applicable interest, fees and penalties, and that I have satisfied my obligations for repayment.
Debt collectors are legally obligated to send you a debt validation letter. If you don't receive a debt validation letter, or it lacks detail, you can make a debt verification request. You can file a complaint with the Consumer Federal Protection Bureau or the Federal Trade Commission.
A creditor can use the judgment to collect money from you. They may take some of your wages, money in a bank account, or sell your home. The process is commonly called garnishment even if a Citation to Discover Assets form is used.