Legal Question in Credit and Debt Law in Massachusetts

I have a 3+ year old debt originally from Bank of America. B of A became Barclay's and I could not make the payments when I was in Grad School. I called up Barclay's later to try and set up a payment plan, but they told me they had written off and sold the debt. I am now getting contact from Capital Management Service and the debt has increased by about $7,000 to $27,000. They are offering a 50% settlement which I cannot pay all at once. Should I write a debt validation letter, and if they can validate the debt, start negotiating?


Asked on 9/21/10, 6:29 am

1 Answer from Attorneys
henry lebensbaum Law Offices of Henry Lebensbaum (978-749-3606)

you should write a demand pursuant to federal and state law seeking verification, and evidence of acquisition.

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Answered on 9/26/10, 11:51 am


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