Legal Question in Credit and Debt Law in Texas

Credit Card Collection Settlement

I have a credit card balance that was turned over to a colection agency. I am not disputing that I owe this. I was offered a settlement amount and need to know how I can be sure that if I pay this they want bother me anymore or say that I still owe the balance after the settlement? I am willing to pay the settlement amount but have heard stories about the agency coming back and saying you still owe them. I have the letter they sent me with the information on it. Please help!


Asked on 10/16/06, 9:29 am

1 Answer from Attorneys
Sharon Campbell Sharon K. Campbell

Re: Credit Card Collection Settlement

Just make sure you get it in writing from them. Also, on the check you pay them with, note on the memo section that it is in full payment of the debt - identify the debt. I would also negotiate, and get in writing, some change in how it is reported on your credit report. The whole tradeline deleted. They will tell you it is illegal or they can't do that but that is not true.

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Answered on 10/16/06, 11:52 am


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