Legal Question in Credit and Debt Law in Texas

debt settlement question

I am contemplating settling an old credit card debt of mine. The agency has offered to settle for a reduced amount and told me that this settlement would 'clear' it from my credit report. However, I thought they can still report it as being settled for less than the value - thus still leaving a mark on my credit report even though my legal obligation is satisfied.

How can I make sure that the agency would carry through in their promise to settle the account without a negative mark that I settled for less than the full amount?


Asked on 6/12/08, 1:02 pm

1 Answer from Attorneys
Donald McLeaish McLeaish&Associates;, P.C.

Re: debt settlement question

Get it in writing..the offer is probably coming from a collection agency who bought debt for 10cents on dollar...To get your credit report disputed..contact them..not collectors..

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Answered on 6/12/08, 4:16 pm


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