Legal Question in Credit and Debt Law in Florida
I have an equity line of credit loan that has gone to collection.The collection agency has offered me three options to satisfy my account.The amounts range from 15%to 25% of the loan amount.If i pay them one of these options,what can i get in return from them that absolves me from this loan and satisfies this debt?
1 Answer from Attorneys
You need all of this in writing and that once you pay the debt they will issue a satisfaction of the debt. Be careful, because most of the time they will have language that says if you default you owe it all plus fees etc. See a consmer lawyer to review or draft the agreement.
To find a consumer lawyer in your area, go to
http://naca.networkats.com/members_online/members/directorya.asp?token
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