Credit & Debt Most Popular Articles

How to Fight Debt You Don't Owe

Debt is hard to deal with. Dealing with debt you don't actually owe is even tougher. The Better Business Bureau recommends fighting back when debt collectors are wrong about what you owe them.

June Walbert, a Certified Financial Planner practitioner with USAA, passes along these tips:

Request written proof of the debt. By law, a collection agency must provide you a validation notice within five days of contact. Verify the debt by sending back a written request within 30 days of the validation. This can help distinguish identity thieves from real debt collectors.

Once you confirm you don't owe a debt, correct items related to the debt on your credit report. Write a detailed letter to the company that provided the info to the reporting bureau and provide proof to back your case. The Federal Trade Commission tells how to report errors at
Check your credit report yearly with the three credit reporting bureaus, Experian, Equifax and Transunion at Victims of fraud or identity theft may be eligible for free reports. 
Finally, tell them to stop. Confirm you do not owe the debt, then send a letter by certified mail to the collector advising them to cease contact. By law, they must stop. Report uncooperative collectors to the Federal Trade Commission and the Better Business Bureau.

-- Courtesy of USAA

Military News App by

Download the new News App for Android on Google Play or for Apple devices on iTunes!

Featured VA Loan Articles

  • VA Loan Closing Costs: An Added Benefit
    Besides the advantage of requiring no down payment for qualified VA borrowers, there's also a distinct advantage for the borrow...
  • White suburban home.
    IRRRL Facts for Veterans
    IRRRL stands for Interest Rate Reduction Refinancing Loan,also known as a "Streamline" or a "VA to VA" loan.
  • US Map Showing High Cost Counties
    VA Loan Limits for High-Cost Counties 2017
    The VA loan limit for 2017 is $424,100. But it could actually be substantially more if you buy a home in a high-cost county. Se...
  • Get the FAQs on VA Home Loans
    We've answered 16 of the most frequently asked VA Loan Benefit questions. View them now to get a quick understanding of your be...
  • Top 3 VA Home Loan Tips
    There are numerous advantages to having a VA mortgage. A VA mortgage loan can be guaranteed with no money down, in some cases u...
© 2016 Military Advantage