Legal Question in Credit and Debt Law in Georgia

First, just because a collection agency claims you owe interest on a debt doesn't mean you do. Before you do anything, take advantage of free or a low cost consultation of a consumer lawyer in your area. It is quite possible the statute of limitations has run on that debt. However, you didn't provide sufficient information to answer that question.

Second, even if it is a legitimate debt, make sure you get everything in writing, including a final settlement agreement. People who want to do the right thing by settling their debts are bamboozled by these companies.

Third, look at your contract with the cemetery. If the plot is transferable, and the agency will accept it, you can transfer it for satisfaction of the "debt."

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It would be close to shocking if they accepted it, but that is a question for them to answer.

First of all, no real collection agency is likely to offer or accept such a deal.

Second, if the debt is that old, you may have defenses to it.

Meet with a lawyer.

I don't understand what you mean by "a collection agency is trying to collect interest only" on a debt. This makes no sense as collection agencies do not work that way unless you entered into some kind of a settlement agreement and paid off the prinicipal. If that is the case, did you get a settlement letter?

I agree with Attorney McGill that possibly the statute of limitations has run. By caselaw, its 6 years in Georgia and begins to run from the time that you last made any kind of a payment on the debt. Even making a small payment to a collection agency may revive it. Before you pay anything, you need to get a letter from them in writing specifying that no further amounts will be owed once the settlement amount is paid. Better yet, I agree with the others that you need to consult with a lawyer to have him or her review your situation before you make any deals about paying on the debt.

Creditors want money. I have no idea what kind of debt this is but I would very very surprised if the creditor accepted the cemetary plot. That said, they may be able to levy on the plot and have the sheriff sell it (assuming that the plot can be transferred) and give the creditor the money.