Legal Question in Credit and Debt Law in Florida

Credit Card Debt
My wife and I recieved a voicemail at our house about a very past due credit card debt. I do not dispute the validity of this debt. The call was from an attorney's office, and prior to the phone message, we recieved no other notification, ie mail. My wife returned the call today, and was basically told that it will be going to court. The only thing that can stop this action would be a check for ''downpayment'', followed by another check for the entire debt amount to be withrawn electronically 20 days from now. There was no other offer made like monthly payments to settle this. I can't come up with $5000 in 20 days. Do I have any options?

Asked on 3/08/07, 12:50 pm

2 Answers from Attorneys

Scott R. Jay Law Offices of Scott R. Jay

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Re: Credit Card Debt

NOTE: This communication is not intended as and should not be interpreted as legal advice. Rather, it is intended solely as a general discussion of legal principles. You should not rely on or take action based on this communication without first presenting ALL relevant details to a competent attorney in your jurisdiction and then receiving the attorney's individualized advice for you. By reading the "Response" to your question or comment, you agree that the opinion expressed is not intended to, nor does it, create any attorney-client relationship, nor does it constitute legal advice to any person reviewing such information, nor will it be considered an attorney-client privileged communication. If you do not agree, then stop right here, and do not read any further.

You do not automaticially get a choice of methods to resolve outstanding debt. The attorneys could have demanded payment in full but agreed to accept a down payment although you think it is high. This only came about because you missed the payments that were supposed to be made to the creditor.

That being said, if you seriously wish to resolve this matter, I would suggest that you consult a local attorney who might be able to negotiate a better repayment schedule for you. The other party will be more likely to listen to a fellow attorney than a debtor who has already failed to live up to his or her obligations.

Scott R. Jay, Esq.

Answered on 3/08/07, 1:32 pm

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