I have to many personal loans and pay day loans. 15K. If I pay back through a debt relief co can creditors still sue me.

Asked over 1 year ago - Chowchilla, CA

Got into mess due to pay cuts 60% and just paid off chapter 13 last sept.

Attorney answers (2)

  1. Robert Harlan Stempler

    Contributor Level 19

    1

    Lawyer agrees

    Answered . If you settle with a creditor, payday lender, or a debt collection agency, then it should be clear and stated in writing, so that they later do not try to collect the rest of the debt. Please check out my links, below, the first is a legal guide on Avvo to settlement terms #3 and the other is my settlement pitfalls to avoid.

    Robert Stempler (please see DISCLAIMER below)
    www.StopCollectionLawsuits.com
    www.facebook.com/SoCalConsumerLawyer
    Twitter: @RStempler

    NOTICE: The above statements are provided for general information purposes only and are not intended as legal... more
  2. Matthew Scott Berkus

    Contributor Level 20

    1

    Lawyer agrees

    Answered . Be careful with "debt relief" companies. Make sure you understand what they can and can't do for you.

    If you are talking about a "debt settlement" plan, the creditors CAN sue you until a settlement is reached (if ever). If you are talking about a consumer credit counseling program (which would be odd, as they only work with credit cards), assuming the creditor will work with the agency, then you are okay.

    I think you are about to spend money on a scam company that promises debt relief and you will end up worse off and getting sued.

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