Is your creditor is disturbing you and asking for the bill which actually does not belongs to you? Calm down, because you are not alone. Every year thousands of Americans get in this situation where their creditor asked for the money which their debtors actually do not owe or the real amount of the bill is much lowered than what the creditor is asking for. That’s why; there is a disputed debt law in America.<\/p>\n
The official definition of disputed debt is quite complex. For you, I am sharing the easy one which can be understood by you easily. Basically, the disputed debt is a loan or obligation (in term of money) which you believe that it does not belongs to you or you don\u2019t own it. In real life, there could be so many examples of the disputed debt which includes the delinquent account which does not belong to you or the bill of your gym which you have used for very few days. This also includes the lawsuits in which one person asked for the responsibility of medical bills from you in a car accident or in the case when the injury does not happen due to your fault etc.<\/p>\n
It is important because it can cause many problems in future if you want to take debit or loan for business or personal use. If you failed to win a dispute against a debt which you don\u2019t owe then your credit report will get negative impression for at least 7 years (debt collection on credit report). This happened due to the credit bureau that will provide your credit report to the bank at the time when you asked the bank for the loan.<\/p>\n
There is no hard and fast rule for this. As long as you are assured that the debt does not belong to you, you can easily win the win the case. There are two ways to do this. You can take help from the professional layer or do it on your own to save money. When you receive the notification from the creditor, simply send a dispute debt letter in back. The purpose of dispute debt letter is to show you evidence that you actually owe the credit. The creditor has shown you the evidence within 30 days. After 30 days the case will be automatically closed if he failed to show any verified evidence against you<\/p>\n
A dispute debt letter will give you an instant relief because this letter will stop the creditor to send you all notification related to dispute a collection until he\/she provide you the evidence.<\/p>\n
You can still dispute a debt and win by doing the traditional tactics which include cutting your expenses and collecting money to pay the disputed amount or make deal with your debtor that you will pay the amount after a specific time. You can also use one of your assets as security to increase the days of debt collection if you really own their money.<\/p>\n
Other than this, you can use the online tool like credit karma to generate your credit report to see that how you can manage all the debt easily. This tool gives great advice and has advanced features to manage all debt easily.<\/p>\n\n\n