Before you start
US consumer debts. Regulation F requirements concern covered collectors, generally not original creditors collecting their own debts or business debts. Certain mortgage notices may use an enclosed periodic statement under a special rule. This tool does not decide liability, fee authorization or legal deadlines.
1. Compare one account over one period
Write down the reference date, the balance for that date and the date of the claimed current balance. Use the same account and currency throughout. Do not compare an old statement’s principal alone with a later total that includes other items.
Under Regulation F § 1006.34, the reference balance can already include interest and fees as of that date. Later activity is itemized separately. The reference date may be a permitted date such as the last statement or charge-off date; it is not automatically a payment deadline or the start of a legal limitation period.
2. Sort each later entry before adding it
List the interest and fees added after the reference balance, then the payments and credits applied after it. Enter reductions as positive amounts in the calculator’s payment and credit fields; the calculation subtracts them. A credit may be a correction or adjustment, not a cash payment you made.
Use posted records and note anything pending, returned or reversed separately. If the same payment appears in a bank statement and collector receipt, count one payment, not two. If a fee is already included in the opening balance, do not add it again. An unexplained or missing amount is unknown, not automatically zero.
| Category | What to check |
|---|---|
| Starting balance | Amount already includes everything through its reference date. |
| Later interest and fees | Only amounts added after that starting point. |
| Later payments and credits | Only reductions applied after the starting point, counted once. |
| Claimed current balance | Amount and date shown in the demand being reviewed. |
3. Rebuild the amount and label any difference
Calculate: starting balance + later interest + later fees − later payments − later credits. Compare that result with the claimed amount. The difference is the claimed amount minus your reconstructed total. A positive difference means the demand is higher than these inputs explain; a negative difference means it is lower.
Neither result identifies who made an error. Check date cutoffs, missing entries, reversed payments and transcription first. If the reconstructed result is negative, do not treat it as a confirmed refund: recheck the records and ask the company to explain the account. The calculator has no access to the creditor’s ledger.
4. Ask what authorizes the disputed charge
A mathematically consistent fee can still need explanation. Ask for its description, date, amount and the agreement provision or law relied on. For interest, ask which balance, rate and period produced the figure. Do not assume every collection fee is permitted just because it appears in a table.
For covered collectors, Regulation F § 1006.22(b) limits collected amounts to those expressly authorized by the agreement creating the debt or permitted by law. This calculator does not read those terms or apply state law. A missing detail is a question to investigate, not an automatic declaration that the entire debt is canceled.
5. Send the exact discrepancy and keep the reply
Attach relevant copies and explain: “For the same period, the entries I have total [amount], while your notice claims [amount]. Please explain the difference of [amount] and identify any omitted or reversed entries.” If you dispute a particular charge or the entire claim, state that separately and accurately. You can request information without conceding a balance you have not verified.
Use the existing validation-letter guide for the applicable written dispute process. Filling in this sheet or asking a general question does not automatically pause collection. Keep the notice’s instructions and dates separate from your own review date. Court papers require their own timely response; this calculation does not extend a deadline.
Fictional example: $40 remains unexplained
Assume a notice uses an October 1 balance of $900 and lists activity through October 15. After October 1 it adds $45 interest and $20 fees, and applies $200 in payments and $15 in credits. All figures are USD, posted, and counted once; no reversal or other activity is assumed. The demand says $790.
The reconstruction is $900 + $45 + $20 − $200 − $15 = $750. The difference is $790 − $750 = $40. Ask what explains that $40. This does not establish that $750 is legally owed, that $40 is an unlawful charge, or that the example’s $45 interest and $20 fees are authorized.
| Entry | USD |
|---|---|
| October 1 starting balance | $900 |
| Later interest | +$45 |
| Later fees | +$20 |
| Later payments | −$200 |
| Later credits | −$15 |
| Reconstructed total | $750 |
| Claimed current amount | $790 |
| Unexplained difference | +$40 |
Before you finish
- Use the same account, currency and cutoff dates.
- Keep charges already in the starting balance out of later additions.
- Count each posted payment or credit once.
- Label unknown and reversed entries rather than guessing.
- Check arithmetic and authorization as separate questions.
- Keep the written explanation and any remaining dispute.
Prepare a balance question the company can answer
Optional notes accompany the arithmetic check. Do not enter full account numbers, bank records or identity documents.
Optional notes stay in this page's memory. This worksheet does not send or save your entries. Do not enter account numbers, passwords, Social Security numbers, or other private information. Downloading or printing creates a copy you control.
Compare the arithmetic with your documents, then send one specific question or reviewed dispute through the verified collector channel.
Check an itemized balance
Use the same debt, the same base date and the same statement end date. Enter documented amounts; enter 0 only for a known zero. This adds and subtracts the entries, without deciding whether a charge or debt is valid.
Arithmetic: base balance + later interest + later fees − later payments − later credits. Do not add interest or fees already included in the base again. Do not subtract a payment or credit twice. Compare with the amount claimed for the same date. Missing records can change the result.
Amounts are in USD, from 0 to 1000000000, with a decimal point and up to two decimal places. Do not use commas, currency symbols or scientific notation. Enter 0 for a known zero; leave unknown amounts unresolved rather than guessing. The number of regular payments must be a whole number from 0 to 120.
Questions you may have
If the numbers add up, should I pay that amount?
The tool checks only arithmetic. Identity, account ownership, previous settlement, whether the amount is authorized, old-debt rules and any agreement still require separate review. It does not issue a payment recommendation.
What if the notice refers to an attachment?
Read the enclosed itemization before concluding that details are missing. Some residential mortgage notices can use a qualifying enclosed periodic statement under the special rule. If the attachment is missing or still unclear, request it and keep track of the applicable response process.