Verification of Debt Requires Exact Accounting

Verification of Debt Requires Exact Accounting

This is not required for verification. Verification of a debt involves nothing more than the debt collector confirming in writing that the amount being demanded is what the creditor is claiming is owed; the debt collector is not required to keep detailed files of the alleged debt. Chaudhry v. Gallerizzo, 174 F.3d 394, 406 (4th Cir. 1999).

This provision is not intended to give a debtor a detailed accounting of debt to be collected. Maynard v. Cannon, 401 F. App’x 389, 396 (10th Cir. 2010).

The Eighth Circuit Court of Appeals confirms that the verification requirement is satisfied where the debtor "could sufficiently dispute the payment obligation." See Dunham v. Portfolio Recovery Assocs., LLC, 663 F.3d 997, 1004 (8th Cir.2011).

Proof could consist of:

  1. A credit card statement (such as a charge-off statement) that matches the balance the debt collector.
  2. A list of charges that total the amount claimed in the initial communication.


    • Related Articles

    • Judge Said Original Note Is Not Necessary | Verification of Debt

      This is a blatant misrepresentation to keep you from exposing the truth. The Judge is in most cases using the words VALIDATION and VERIFICATION interchangeably, but they are very different in their meanings. The Chaudhry v. Gallerizzo case upheld a ...
    • The Account Is CLOSED But No Debt Collectors Have Contacted Me Yet - What Next?

      If 90+ days has passed and the original creditor has closed the credit account, it will immediately be sold to debt collectors. Be aware, it takes debt collectors time to initiate a collection process as they purchase "bulk debt bundles" and have a ...
    • What Practices Are Banned For Debt Collectors

      Regarding harassing or abusive tactics, debt collectors may not: Use or threaten to use violence or criminal means to harm you, your reputation or your property; or use obscene or profane language; or advertise that you owe a debt; or advertise your ...
    • What Is An Accounting Year

      The closing month of the accounting year is the last month of an entity's tax year. A calendar year is 12 consecutive months ending on December 31. An accounting or tax year is 12 consecutive months or 52 weeks and might not end on December 31.
    • Does Debt Removal Secrets Work For Business Debts (LLC, Corporation, Etc.)

      The FDCPA applies only to the collection of debt incurred by a consumer primarily for personal, family, or household purposes. It does not apply to the collection of corporate debt or debt owed for business or agricultural purposes. Despite this ...