Legal Question in Credit and Debt Law in Maryland
If a company is trying to retrieve a debt and agree to a settlement is it legal for the company to change their minds
Asked on 8/24/11, 12:32 pm
1 Answer from Attorneys
Paula McGill
Paula McGill Attorney at Law
It is difficult to answer your question without a review of the original agreement and modified agreement. Therefore, the below states a general rule of thumb.
Normally, if the original debt is in writing, a company will include a provision that prohibits modifications without written approval. Therefore, if you have a written modified agreement or settlement agreement, they cannot revoke the agreement unless the agreement permits it.
Answered on 8/24/11, 6:44 pm