Legal Question in Credit and Debt Law in Florida

Student Loan Repayment Agreement

I entered into a written repayment ''arrangement'' with a collection agency re a defaulted student loan. Terms obligated me to make graduated repayment and them to report payments as good to credit bureau, adjust total owed of loan and to abide by terms to end of repayment. I abided by terms, but they failed to do their part and after 1 year the account was moved to another collection agency who has deemed contract null and void and now requests new unilateral terms. What can I do about this breach of contract? What options do I have? I am dealing with very dishonest characters who have denied facts made in writing consistently and appear to be trying to cover up a big mistake made by prior collection agency.(They agreed to MY terms in writing!) Thank you for your replies.


Asked on 7/29/01, 10:22 pm

1 Answer from Attorneys
Elliot Goldstein Law Offices of Elliot Jay Goldstein

Re: Student Loan Repayment Agreement

What type of student loan are we talking about (Stafford, private, etc...)? Regardless, if the collection agency agreed in writing to your terms then a good case probably could be made that the rules of agency bound the lender. The new collection agency can not now change the rules.

Write the new agency. Send them a copy of the "contract" agreed to by its predecessor. Send the letter by certified return receipt mail. Keep a copy for your records. Tell them that you will continue to abide by the agreement. Demand that they only communicate with you in writing. Specifically state that they should not telephone you.

If they continue to refuse to abide by the "agreement/contract" then schedule a formal consultation with a lawyer. A good means of obtaining an attorney referral is by contacting your State's bar association or your local county bar association. They probably have a web site and charge a nominal fee for the referral. Most attorneys either provide a free initial consultation, or charge a nominal fee.

Good Luck, Elliot Jay Goldstein (Attorney with offices in Tampa and St. Petersburg)

The above information is provided as a courtesy, without any consideration and without knowledge of the specific facts. Do not rely on this information. Seek a formal consultation with an attorney.

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Answered on 7/30/01, 7:49 pm


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