I signed a consent agreement for a credit card debt I originally owed to Citibank, which they subsequently sold off. The agreement says I am to have a certain amount withdrawn from my bank account each month until the debt is paid. That law firm who was handling the case closed and sent a letter saying I should be making my payments to a new firm as of October 1st. My question is, since the paperwork from the agreement specifically states my payments are made each month to the now no longer in existence law firm, am I still legally required to make the monthly payments per the agreement. Also, I have received nothing from the the new place which this law firm told me to send my payments to.
If you want to dump your settlement, go ahead. The new debt buyers will end up suing you to collect the balance.
The consent agreement was with the credit, with directions on where to send the money. They have now sent you notice that the money should be sent to a new firm, which is completely valid. Should you stop making payment, it will void the agreement, and the new lawyers can use what you have signed to go back to court and get a judgment for the remainder, add any interest and fees originally owed and raise the judgment amount, then garnish your wages and checking account.
The above information is general in nature. In order to obtain more specific legal advice upon which to base your important decisions, you should consult with an attorney in person and retain one of your choosing. Robert M. Gardner, Jr. Gardner Law Firm
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