Legal Question in Credit and Debt Law in Louisiana

if you are behind on credit card and they offer a settlement for a certain amount if you pay it are you legally finished with that card


Asked on 1/11/12, 8:08 am

1 Answer from Attorneys
Adam Lambert The Law Office of Adam S. Lambert

Yes and no. You should negotiate some additional things with them before you pay. BEFORE YOU PAY, you should have them either (1) remove the account information from your credit record entirely (they will tell you they can't do that, but they can), or (2) have them mark the debt on your credit record as "paid in full". Otherwise, paying them off does nothing but keep the bad mark on your credit record longer.

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Answered on 1/16/12, 9:03 am


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