Legal Question in Credit and Debt Law in New York

Collections on closed out account

Ok this is how it all started. i had lost my job in june 2003 when i was already behind because financial probs and i couldnt pay my bills at all and i notified them all that i would start asap. i got a job about 2-3 months latter and went into debt cosolidation. and they all accepted. now i kept getting letters from one credit card (origonaly 200$ limit) after they accepted that they closed out the accout and they may take legal actions. Ok so i called them on the number on the paper to speek with the recovory specialst. turns out shes on maternaty leave untill the end of january. ok by now it is up to about 600$ and rising ive talked to other people there hanging up on me and on my debt consolidation people and they say all they can accept by federal law is a payment in full. and if i want to do anything else i can only talk to the recovory specialst and i cant because she is gone. and sence she is gone my debt is still riseing what do i do??


Asked on 1/05/04, 7:45 pm

1 Answer from Attorneys
Guy Lewit Guy Mitchell Lewit, Esq.

Re: Collections on closed out account

You indicated "they all accepted". If this is so, they are bound by that. Suggest you contact the consolidation company (I assume you are paying for their services) and get them to notify the rogue agency/creditor of their obligation to accept the payout/reduction.

Read more
Answered on 1/06/04, 1:14 am


Related Questions & Answers

More Credit, Debt and Collections Law questions and answers in New York