How Often Are Debts Invalidated Without Going To Court
The report states: "The information submitted in the study further provides insight into debt buyers’ verification of debts that consumers have disputed. As shown in Table 14, the Commission’s analysis of 713,308 disputed debts in 1,853 portfolios revealed that debt buyers reported that they verified 51.3% of the debts that consumers had disputed [leaving 48.7% that is invalidated without a single letter in reply]. In addition, debt buyers reported that they were more likely to verify debts that they had obtained from the original creditor (55.7%) than debts they had acquired from other debt buyers (35.9%). Regression analysis, presented in Table 15, indicates that debt buyers were significantly less likely to report verification of disputed medical, telecommunications, and utility debt, as compared to verification of credit card debt. Debt buyers also were significantly less likely to verify debt that was more than six years old, as compared to debt less than three years old." Source: United States Federal Trade Commission, ftc.gov
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