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[Applause] [Music] what's up guys welcome back to another episode on keeping it real with credit now on today's episode we're going to talk about debt validation and debt verification these two terms are used frequently in the credit repair industry and there seems to be a lot of confusion as to what they actually mean so hopefully i'm able to clarify this for you so that you have a better understanding as to what collection agencies are required to provide as sufficient proof when disputing the first thing we need to know is that there's actually certain laws that the fair credit reporting act and the fair debt collection practices act aren't clear on on what constitutes sufficient evidence or proof of verification and validation the terms debt verification and debt validation refer to the process where you the consumer requested a debt collection company proves to you that you actually owe the debt i know that this sounds exactly the same but there is an important difference to pay attention to when is when you're considering a legitimate debt validation letter and a debt verification letter the fair debt collection practices act states that every consumer is entitled to request validation for the collection of debts but the fair debt collection practices act does not have a clear definition as to what a legitimate debt validation is so the good thing is is that you have the right to send a letter to your creditor or collectors to request a confirmation of information reflecting your derogatory or delinquent accounts this is what actually is considered a debt verification letter and this usually just includes the details of the debtor's name and address now if you thought that this was enough proof to bring the court it actually isn't thanks to the internet anyone can go online and look up an individual's name and address so unfortunately for the creditor or collectors it's not enough as the letter does not verify your existing debt to the creditor it also doesn't put a stop to the communication from the collection agency or stop the debt collection entirely the collection agency can still abide by the law of the fair debt collection practices act and keep trying to collect on the debt so remember how i mentioned earlier that the fair debt collection practices act doesn't have a clear definition as to what compromises a debt validation letter collection agencies can then technically give you a any documentation since this is considered adhering to the law some collection agencies will do this to the consumer who do not fully understand the difference between these two letters so what exactly does the court require they actually require the original contract signed by the consumer addressing the collection agency to provide them a legitimate debt validation because the fact that this is not clearly stated in the fair debt collection practices act there are some collection agencies who will only send a debt verification as a response to your validation request but there's still one really important difference between the two letters a debt validation letter can demand relevant facts and details that have commonly exposed fraudulent plans with a lot of collection agencies you can use this letter to contest any abusive action of a collection agency and you can actually attest to a legitimate claim on a consumer's account but there's still one real important difference between the two letters a debt validation letter can demand relevant facts and details that have commonly exposed fraudulent plans with a lot of collection agencies you can use this letter to contest any abusive actions on a collection agency and can attest to a legitimate claim on a consumer's account now if things escalate and a lawsuit arises sufficient proof of validation is the only acceptable documentation which will prove that you owe the debt the collection agency will be required to present the evidence of this to the judge remember that that verification letter does not prove anything and will not hold up in court when it comes to your credit report if there's no presence of a legitimate debt validation from your creditor or collector you have a chance to win your case and you also should not receive any more harassing phone calls from the debt collection agency and the same goes for an account on your credit report the validation should include specific documentation from the original creditor just a printout of the amount owed is not enough proof if this is all the collector provides then they did not conduct a thorough investigation to ensure that the debt they are trying to collect on actually belongs to you if the collection agency refuses to provide the validation you requested by saying that they are not required to do so or if they're saying what they submitted is sufficient proof you can actually demand that the collection company seizes all collection of the account and stop reporting the account to any and all credit reporting agencies so guys with that being said i hope you like the information on this video make sure to like comment subscribe share with family and friends and until the next episode on keeping it real with credit [Applause] [Music] peace you