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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.

According to a report compiled by LexisNexis, United States merchants are suffering from $191 billion in fraud losses this year. Believe it or not, the average merchant will be subject to almost ten times the identity theft of financial institutions.

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.

In part one on my two part series of articles about stock markets, I let you know that a stock market is a public market that is used to trade company stock and derivatives at an agreed price. I provided you with a few basic ideas about stocks and derivatives, and I wrote that people who participate in the stock market can range from individual stock investors to hedge fund traders. Now a bit on trading stocks.

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.