Credit Card Lawsuit Settlement Agreement

You should see eight conditions in a transaction letter, including how much you promise to pay and when it is due. Avoid colonies that are vague or contain ambiguous terms. Some initial creditors insist that you make a payment before sending you a transaction letter. The written transaction letters will serve as proof of your promise to pay and promises made by the original creditor or collection company to allocate the remainder of the balance and terminate future collection operations. Honest people have no fear of writing down their promises. Honest debt collectors and original creditors use form letters to cancel transaction letters in a matter of moments. However, unscrupulous debt collectors use strange excuses to avoid a written agreement. You can say that this is contrary to national or federal legislation or contrary to corporate policy. There is no law prohibiting settlement agreements, in writing or by other means.

Corporate guidelines are rules that can be changed and do not have the force of law. To avoid legal action, try to pay off your debts before a levy is made…