Public Financial Knowledge Infrastructure: What is Validating a Debt?

Inspiring Critical Thinking and Community via Books, Lessons, and Story

    Here is another very basic post, meant to be useful for anyone wishing to give a 5-minute seminar at the Metro/Trolley/Bus stop.  Please feel free to print, handout, repost, and share widely.
   Last week, we defined the phrase Statute of Limitations for four types of debt.
    We mentioned that a crucial point to remember is that in most states, the clock can restart on an old debt if you promise to pay, or make even a token payment on an old or expired debt, which is why it is very important to be careful in dealing with debt collectors of any type, even if the debt has  been validated.
     Validating a debt is the process of sending you certain required information that proves you to be the person owing a certain debt.
    Federal law requires certain information…

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