What Happens After The Debtor Sends The Letter?
- The creditor has 30 days to act.
- The creditor must look into the claim.
- The creditor must either correct the mistake or explain why there is no mistake.
- The creditor must give proof the bill was corrected if asked for it.
- The creditor can't do anything against the debtor until it checks into the claim and reports back to the debtor. It can't close the account. It can't make a bad report to a credit bureau.
Speak to an Experienced Creditors Rights Attorney Today
This article is intended to be helpful and informative. But even common legal matters can become complex and stressful. A qualified creditors rights lawyer can address your particular legal needs, explain the law, and represent you in court. Take the first step now and contact a local creditors rights attorney to discuss your specific legal situation.
Additional Creditors Rights Articles
- What Happens If The Debtor Says There's A Mistake In The Bill?
- Whom May A Creditor Contact About A Debt?
- Can A Creditor Be Stopped From Contacting The Debtor?