Legal Question in Credit and Debt Law in Michigan
setttling a credit card debt
i have reached a settlement with 2 card companys one was thur the card co. it self. the other with a law firm the was handling the credit card account. i have nothing in writing they were both done over the phone. both have taken the amount out of my banking account. could both of these card company go back on thier word and still try to collect the remaing balance on the cards
2 Answers from Attorneys
Re: setttling a credit card debt
If you have nothing in writing, it is going to be difficult to prove there was a settlement. I would try to get a letter from the attorneys. Also, if you protect yourself by putting in a memo section of the check or money order you used to settle something like settlement or paid in full, that would help you.
Re: setttling a credit card debt
Yes. You would have a lawsuit against them however it would be your word against theirs. One way to handle the matter is to write a certified letter to them confirming the details of the negotiation and settlement agreement.
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