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.

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Answered on 8/24/11, 6:44 pm


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