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No debt settlement agreement letter no deal?

South Amboy, NJ |

I contacted the debt buyer who's suing me on a debt, to make a settlement arrangement. They stated that it was company policy that I hand over my bank information and pay them a large installment in order to receive an agreement letter in the mail. I stuck to my guns and plainly told them that I refuse to agree to anything without a contract. They caved and said that they would email the terms to me. So far, they did not. They even said that I had agreed to pay them what they bargained for, trying to put words into my mouth. I didn't lose my composure. They said that they will forward this conversation to the judge. How can I get an agreement from them to settle this debt?

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Attorney answers 3


who is the JDB? And if you are in court, they should give you a settlement agreement. You might want to ask the judge ( if one is assigned) for a conference so their forked tongue can be revealled or melded. You might also want t contact a consumer lawyer in your area.



The JDB is Portfolio Recovery Assoc.


First, almost every debt collector keeps recordings of their collection calls for 12 months. So an accurate account of your phone calls are preserved for future reference. Second, the debt collector does not have authority to pass anything along to a judge, their statement in this regard is no different than if you had said the same thing to them. It is meaningless and they know it.
Third, you cannot "make" the collector agree to settlement terms or to reduce those terms to a formal writing. You can however insist the terms be set forth within a short letter on their letterhead. To promote this agreement advise them you agree to an immediate payment upon receipt of the letter. It you are serious about settling the matter, a deadline for an immediate payment indicates that.

Richard A. Lee, Attorney 404-288-4444 DeKalb & Rockdale locations. The information provided in this answer is not legal advice to any person and does not establish an attorney-client relationship. This information is provided as general non-specific information.


File an application to enforce the agreement by using the correspondences exchanged between you and the debt company.

The information is for general information purposes only. Nothing from this comment should be taken as legal advice for any individual case or situation. This information does not create and does not constitute an attorney-client relationship or a prospective attorney relationship.