Credit Debt Cures
What is the penalty for not paying a "notice to cure" on a credit card debt?
I live in the state of Iowa and I received a "notice to cure" on a debt that I forgot that I even had from years ago. I am not in a position to make the payments right now and would like to know what will happen if I do not cure the debt. It claims that they will take legal action.
Public Comments
- What type of debt is this...credit card debt? When did you default and last make payment on the debt? Debt collectors do not issue their own legal documents and by themselves, they have zero legal power over you. When a debt collector first contacts you, your first step should always be to request validation of the debt per your rights under the Fair Debt Collection Practices Act. Even if the debt is valid, request validation anyway. Send them a letter via Certified Mail + Return Receipt (do not use regular mail) stating: Per the Fair Debt Collection Practices Act, I am requesting written validation of this alleged debt, including a copy of the original signed application with my signature
