Legal Question in Credit and Debt Law in Florida

I have agreed with a credit card company to pay my debt and they proposed a down payment of close to 10 % which I did a 12 Monthly installments for an amount close to 2% of the total debt and a Florida statutory rate of 8% on the remaining balance. they sent me a stipulation and consent to judgment to be signed and returned .

My questions are:

Do I quit any rights if I sign this document?

What this document means and make me liable for?

What options I have ?

What happen if I do not sign this?

Thanks


Asked on 9/21/09, 11:54 pm

1 Answer from Attorneys
Angelo Marino Angelo Marino Jr. PA

This is a standard type of an agreement with a credit card company/collection agency. Never agree to more than you can pay. If you cannot pay it, renegotiate.

The agreement basically is a promissory note. Failure to pay means the company can obtain a judgment against you for the amount owed. You lose your rights to object. If you do not sign the agreement, the company will sue you or if you have been sued press for a judgment against you. see ConsumerLawyerHelp.com

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Answered on 9/22/09, 9:34 am


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