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Should I Settle a Debt The Creditor Has Not Proven I Owe? – Peter

I have a collection agency – Palisades- that wants me to pay about 28,000 in CC debt. They are oferring me a 40% discount.

Should I take the 40% disc. or not? They have not been able to produce a credit card agreement with my signture on it. They have only shown me statements. Can they still sue me? Will it hold up in court?

Any help would be great – Peter




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Sincerly,
Steve

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Steve Rhode

Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.

8 Comments

  • It depends on several things… What are your goals? Is this debt yours? How old is the debt? As far as the 40% off, this isn’t a real good settlement offer, I think you could do much better. Especially since this is not the original creditor.

    I would be happy to discuss your situation more in detail if you would like. I run a no upfront fee settlement company. My number is 970-946-6942.

  • It depends on several things… What are your goals? Is this debt yours? How old is the debt? As far as the 40% off, this isn’t a real good settlement offer, I think you could do much better. Especially since this is not the original creditor.

    I would be happy to discuss your situation more in detail if you would like. I run a no upfront fee settlement company. My number is XXXXXXXXXXX.

  • Hello peter

    As far as whether our not you should settle the debt, i don’t know enough about your situation to tell you one way or another. Regarding whether or not they can sue without a signed agreement, the answer is yes. As to whether or not they will win the suit, the answer is probably. Every state has different rules of evidence, but the reality is credit card suits are often rubber stamped through the system and heavily lean for the creditor.

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