All About Credit Card Validation
When it comes to the idea of validating a credit card, there are important factors that you have to bear in mind. Once you are facing debts at the moment, it is vital on your part to save yourself from them. It is undeniable that there are several individuals today who are dealing with serious debts. Foreclosure and bankruptcy have been experienced by many because of this problem. The very first thing that you have to do is to get yourself educated in order for you to get the chance of freeing yourself from the debts that you are having trouble with.
From the several options that you have, it is good for you to have the credit card validation. In case that you are dealing with third party debt collectors, the important thing that you have to do is to let them validate your debts so as to let them know that you really have owed them money. When it comes to debt validation, you will be overwhelmed to know that there are laws that can protect you against third party debt collectors. Before you give the payment to the collection company, it is essential on your part to ensure that they have the right to do so.
In addition, there are vital factors that you have to take a look at in terms of doing the process of validating the debts. For you to be guided, here are some of the things that you have to know.
First and foremost, it is necessary to prove that there is a contract that exists. There is a need for you to ask the proof from the collection company that they have been authorized to collect the payment of the debt from you. Aside from the contract made between the original creditor and the collection agency, you have to make sure that a contract between you and collection agency has been made as well. For example that they won’t make the contract, it would be advantageous on your part to make it then you will just have to send them the copy for signing of contract.
Another important factor that you have to consider when validating a credit card is the signed loan agreement or original credit card application. Before doing the validation, it is vital that the terms and conditions of the credits are identified. On the other hand, if the original creditor has already provided the account statement, there is no need for you to worry about this matter of which it would be ideal for you to ask the account statement then.