The only thing worse than getting an annoying phone call from a collection agency is getting their official-looking threatening letter in your daily mail.

When confronted with a collection agency’s first “dun” letter, that debt collector sets the clock running, and he now has a mazimum of five days to disclose the folowing five things to you:

1. The total dollar amount of the debt in question that they are attempting to collect from you.
2. Who says you owe the money (original owner who extended you credit, that is)
3. The deadline for you to request validation of the debt (most times you will get a minimum of 30 days to dispute such a debt from a collection agency)
4. A statement that if they don’t hear from you, within a specific timeframe ( again, usually 30 days) this debt will then be considered true, valid and accurate if not disputed.
5. A promise to send verification of the debt if debt is disputed by yourself in that time period.

Bottom line: Get a letter, act. Don’t delay. Always respond with a typed demand letter of your own for verification of the debt amount with complete details of the identity of that creditor who has turned over the debt in question.

It doesn’t matter if you have memorized their name, address, phone number, the name of the sales rep who waited on you, the time of day the transaction took place.

Let us repeat this:

Always respond with a typed demand letter of your own for verification of the debt amount with complete details of the identity of that creditor who has turned over the debt in question.

Failing to do this one simple task could cost you valuable consumer protections. Worse, your silence basically affirms the debt and the collection process begins immediately.

At least by disputing the debt the collection agent must fulfil its promise to follow through. It’s the law.