Legally validating a debt
These are companies like Experian, Equifax, and Transunion.
Any party, an original creditor or a debt collector, can report a missed payment or other negative financial information to a credit bureau.
If they don’t, they are not allowed to make any more collection attempts on the debt.
If it was over the phone, reference the date and time.Debt collectors specialize in collecting debts – they call and send letters demanding payment.The third party is the credit bureau or the consumer reporting agency.The credit bureau keeps the information on file and various entities use the credit bureau’s reports to make judgments about an individual, such as a lender to determine whether or not an individual gets a loan and at what interest rate.The federal government passed FDCPA to protect consumers from harassment and unfair practices by collection agencies.