If You Don't Owe a Debt Don't Ignore It

Say you receive a bill for a debt you don't owe: You already made the payment, or you never received the goods or services in question. While you may not owe the debt, you shouldn't ignore it. By law you have thirty days to dispute a debt in writing or a debt collector can assume that the debt is valid. To maintain your rights under the Fair Debt Collections Practices Act, always respond in writing to any debt that you dispute. Doing so keeps the creditor or debt collector from reporting the debt to credit bureaus – at least for some period of time – and also protects your legal rights.

The information provided is not intended to be legal, tax, or financial advice or recommendations for any specific individual, business, or circumstance. TowneBank cannot guarantee that it is accurate, up to date, or appropriate for your situation. Financial calculators are provided for illustrative purposes only. You are encouraged to consult with a qualified attorney or financial advisor to understand how the law applies to your particular circumstances or for financial information specific to your personal or business situation.