When the information is provided in writing or electronically, it is called a validation notice, and it will generally include information like: When a debt collector first communicates with you, or shortly thereafter, they’re generally required to provide certain information about the debt. What is a debt collection validation notice?
Here are five key things to know about the new debt collection rule. This rule clarifies how debt collectors can communicate with you, including what information they’re required to provide at the outset of collection about the debt, your rights in debt collection, and how you can exercise those rights. In addition, on November 30, 2021, the CFPB’s new Debt Collection Rule became effective. The Fair Debt Collection Practices Act makes it illegal for debt collectors to harass or threaten you when trying to collect on a debt. And if a debt collector contacts you about your debts, you may have concerns about whether the debt collector is legitimate, whether the debt is yours, or if the amount the collector is seeking to collect is accurate. You may be having a difficult time financially and that can be frightening. If you have a debt in collection, it’s often a challenging time.
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