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Welcome back to debt collection 101, your beginner’s guide to debt collection. In articles one and two, I wrote about the different types of debt collectors, how debt collectors will locate a consumer, and what they will do when they contact the consumer. In article three I described the strict rules and regulations that debt collectors, particularly third party debt collectors must abide by when they make each phone call.

Growing numbers of patients unable to pay their medical bills due to the economic downturn will be the greatest challenge to hospitals going forward, according to more than half (54%) of those responding to a survey conducted this month by MedAssist.

Nowadays, cash is hard to come across for everyone attempting to meet the standards of living, even young people. As the job market tightens with more and more people losing jobs, competition for employment becomes more fierce and a college education may now be a necessity. While you were in school, loans paid your way through college, but since you have graduated the unthinkable has happened, and these debts have come out to haunt you, maybe even before you are able to secure your first job. A whole slew of debt collectors may be contacting you, and now, you are a frenzied mess searching for anyone who can help you with a student loan consolidation.

If a bill collector is requesting that you pay a debt that you think you do not owe, or more than you owe, you have the ability to dispute the debt in writing. The legal terms for doing this are called “debt verification,” or “debt validation.” Within the first five days of contacting you, the Fair Debt Collection Practices Act mandates that collection agents let you know you about your right to validate the debt. You have to ask for verification within thirty days of when you are first told about the debt. Always send your request by certified mail.