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.
The information on this page is meant to provide a general overview of the law. The laws in your state and/or city may deviate significantly from those described here. If you have specific questions related to your situation you should speak with a local attorney.
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?