Document background
The Debt Collection Validation Notice is a crucial document required under Malaysian debt collection regulations when attempting to collect a debt. It must be sent to debtors within the initial communication or within five business days of the initial communication regarding a debt collection matter. The notice serves multiple purposes: it formally informs the debtor about the debt claim, provides legally required information about their rights to dispute or verify the debt, and establishes a clear communication channel between the creditor/collector and the debtor. This document must comply with various Malaysian regulations, including the Debt Collection Act 1974, Financial Services Act 2013, and relevant Bank Negara Malaysia guidelines. It contains specific information such as the debt amount, creditor details, and validation procedures, while adhering to strict requirements about timing, content, and format of the notice.
