Legal Question in Credit and Debt Law in Michigan

Settlement terms

I would desperately like to have a second opinion about a proposed

settlement.

I have grave concerns as to whether I am being properly represented.

The facts are approximately as follows

Although I have never had an unpaid debt or a bounced check, since late

1999 or early 2000, I have been dealing with identity theft and credit

fraud. In April of 2004 it was necessary for me to obtain professional

legal advise. My lawyer initiated legal action against two companies, a

junk debt buyer, a collection agency, and a CRA, in the United States

District Court - Eastern District Of Michigan, all as one lawsuit. All

but the junk debt buyer has settled.

On March 24, my lawyer has faxed me a proposed settlement for the one

remaining junk debt buyer, drafted by the junk debt buyer.

I have sent letters to my lawyer to, among other things, object to provisions in the proposed settlement

that I believe to be onerous and inimical to me. A second JDB is named in the settlement, but never anywhere else.

How can I get a second opion about this proposed swttlement?


Asked on 4/30/05, 3:48 pm

1 Answer from Attorneys
Rochelle Guznack Law Offices of Rochelle E. Guznack, PLLC

Re: Settlement terms

I assume by "junk debt buyer" and "JDB" you are referring to a purchaser of bad debt. A settlement with a purchaser of bad debt should be no different than it would be with any creditor except for issues relating to amount of interest charged, assignment, and validation of the debt perhaps. In a case of identity theft, I do not see that these are issues that would affect you, however.

If you want a second opinion, you would, most likely, have to be willing to pay an attorney his or her regular hourly fee to review your facts and documents. Most attorneys would not be willing to do this for free because of the amount of time involved. I believe you should make an appointment with your attorney to discuss your concerns. It sounds like a breakdown in communication to me. It is unlikely your attorney would agree to a settlment that is not in your best interests.

Good luck.

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Answered on 5/01/05, 9:58 am


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