Legal Question in Credit and Debt Law in Texas

Credit Card debt

My brother is on SS only. He has about $8600 in credit card debts. A company called Debt Choice told him they could get his amount owed reduced. They would put him in touch with a lawyer who would negotiate the amount owed down to $5800 and he would pay off the entire amount in 22 monthe at a monthly payment of $259. They would keep the payments in a Trust account and pay off the entire amount owed at the end of 22 months. Is this legal? Does it really exist? Is this some kind of a scam? Why would the credit cards stop the acrued interest and settle for less thatn owed?

Paul


Asked on 5/13/08, 9:48 am

2 Answers from Attorneys
TC Langford Langford Law Office

Re: Credit Card debt

I agree with Mr. McLeaish, and also believe these outfits to be scams. Several of my clients went to outfits such as this one, and had nightmares from the experiences, and still got sued.

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Answered on 5/14/08, 12:22 pm
Donald McLeaish McLeaish&Associates;, P.C.

Re: Credit Card debt

It is a scam in my opinion...and creditors must agree in writing...or your brother is still on the debts...

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Answered on 5/13/08, 10:07 am


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