Legal Question in Credit and Debt Law in Virginia

debt settlement

I have been arranging a settlement of a debt i owe with a law firm...The firm was hired by the original credit extenders to collect this debt..I am willing to repay provided the lawfirm remove the very derogatory entries to my credit file at the three major consumer credit agency;s--the problem is , the firm thinks i ( the original debtee ) am dead, and my account is being handled by a legal rep of my estate..This was a stall tactic until i had money to repay..Now the firm refuse's to go beyond giving me a release of claim. After settlement is recieved .And that means i will still have the derogatory info on my credit file.. Is there a legal precident to gurantee the credit entries removal during negoiations......Or will i have t0 accept the release of claim an suffer for 7 years even after the majority of debt is repaid..


Asked on 2/21/07, 10:42 am

1 Answer from Attorneys
John Jackson Law Office of John A. Jackson, P.C.

Re: debt settlement

Your "stall tactic" could be considered fraud. You may wish to pay the money and keep quite. If you demand too much you could be looking at other problems.

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Answered on 2/21/07, 10:57 am


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