Decode this · Sample document
A debt collection letter, explained
The validation notice: who's collecting, for whom, how much, and your deadline to dispute. Sample only: every name and number is made up.
SAMPLE COLLECTIONS INC.PO Box 0000, Anytown 1
Sample Collections Inc. is a debt collector. We are trying to collect a debt that you owe to Sample Phone Co. 2
| As of 01/05, you owed | $412.00 |
|---|---|
| Between 01/05 and today: interest | +$0.00 |
| Fees | +$0.00 |
| Payments or credits | −$0.00 |
| Total amount of the debt now 3 | $412.00 |
Call or write to us by 04/14 to dispute all or part of the debt 4. If you do not, we will assume our information is correct.
✂ — How do you want to respond? ☐ I want to dispute the debt ☐ I want you to send me the name and address of the original creditor 5
What the numbers mean
- Who's collecting. The notice must give the collector's name and mailing address (FTC).
- Who you owe. It must name the creditor. Is it a debt you recognize (FTC)?
- The amount, broken out. It must show what you owe broken into interest, fees, payments and credits. Collectors can't add interest or fees unless your contract or a law allows it (FTC).
- Your 30 days. Dispute in writing within 30 days if anything's wrong. The collector must stop collecting until it sends written verification. If you don't dispute, it will assume the debt is valid (FTC).
- The tear-off form. Notices often come with a form with checkboxes to dispute or ask for more information (CFPB). Send it certified mail and keep a copy (FTC).
Sources
- Federal Trade Commission Debt collection FAQs
- Consumer Financial Protection Bureau How do I get a debt collector to stop contacting me?