Results 1 to 2 of 2

Hybrid View

  1. #1

    Default How Do You Avoid Being Sued for the Difference in a Credit Card Settlement

    My question involves collection proceedings in the State of: Minnestota

    I have a friend who is trying to settle a debt with a collection agency regarding a credit card balance that was charged off. I believe the original limit on the card was around $2500 and the debt is a few years old but still within the statute of limitations, and they are saying the debt is now at about $8000

    She believes that the they will settle for around $3000 but I have read things that the agency can agree to settle, cash your check and still sue you for the difference in many states (she lives in Minnesota) as long as they write "under protest or without prejudice" on the back of the check when they cash it.

    How can she make sure that the settlement offer is in full and they agree to waive the right to further sue her after this? I hate to think that they can just write that and come after her anyways, what is even the point of settling then ?

    Thanks


    Johnny

  2. #2
    Join Date
    May 2007
    Location
    Philadelphia, PA
    Posts
    75

    Default Re: How Do You Avoid Being Sued for the Difference in a Credit Card Settlement

    You could ask for a General Release in exchange for the payment.

    1. Sponsored Links
       

Similar Threads

  1. Debt Collectors: Difference Between Credit Card Debt and Amount Claimed in Garnishment Order
    By Musicbaby01 in forum Debts and Collections
    Replies: 2
    Last Post: 02-22-2011, 02:10 PM
  2. Debt Collectors: Credit Card Settlement
    By drivinnails in forum Debts and Collections
    Replies: 2
    Last Post: 01-05-2011, 10:02 AM
  3. Debt Collectors: Sued After Credit Card Settlement
    By greglove in forum Debts and Collections
    Replies: 8
    Last Post: 03-23-2009, 07:09 AM
  4. Debt Collectors: Making Payments To Avoid Default Of Credit Card Debt
    By tanjewels in forum Debts and Collections
    Replies: 2
    Last Post: 07-11-2007, 07:23 AM
  5. Debt Collectors: Being Sued for a credit card debt not on my Credit report
    By Miguel863 in forum Debts and Collections
    Replies: 7
    Last Post: 09-26-2005, 07:46 PM
 
 
Sponsored Links

Legal Help, Information and Resources