As a consumer, taking the time to review the information on your accounts is critical, as it helps you not only stay on top of your finances, but this is also critical to protect yourself from identity theft and other errors that can impact your credit scores. As such, if you find a debt you don’t recognize on your credit report, you may take the necessary steps to dispute this information. However, if you are told that the debt has been verified, you may not know what this means or what your next steps should be. The following blog explores what you should know about these circumstances, including how you can proceed in these instances with the help of a San Diego consumer lawyer to help you navigate these complex issues.
What Is a Verified Debt?
When a debt is verified, it essentially means that the credit reporting agency has reviewed your dispute and verified that the debt in your name does belong to you. Often, this includes obtaining information that proves you are the owe the debt. This is also the case if a debt has been sent to collections and you have subsequently been contacted by a third-party collector. Debt collectors are required to send validation notices that can verify that you not only owe the debt they are pursuing, but also provide important information about the debt.
In the overwhelming majority of instances, if a debt has been validated, it means it is legitimate and you are legally obligated to handle it. This can include paying it off, negotiating a settlement amount, or agreeing to a repayment plan.
What If the Debt Is Still Incorrect?
Unfortunately, it’s not uncommon for a verified or validated debt to be incorrect. This is often the case when the reporting agency fails to properly investigate disputes initiated or when a debt collector manipulates the debt to make it appear valid. These situations can be frustrating, leaving you unsure of your legal options.
If this represents your circumstances, it’s imperative to ensure that you take the necessary steps to best protect yourself. This includes immediately connecting with an experienced consumer defense attorney to examine your circumstances and seek the best possible outcome for your needs.
At Barthel Legal, we understand how important your credit score is to you, which is why we will do everything in our power to help you remedy these issues. Our team will examine your circumstances to help you in the fight for the best possible outcome for your unique situation. When you need assistance, contact us today to learn how we can fight for you.
