QUESTION
Should I sign and agreement for judgement on a credit card debt?
Asked on May 01st, 2012 on Bankruptcy - Louisiana
More details to this question:
Credit card debt of 5600.00 - Credit Card Company hired a law firm who contacted me and we agreed I would pay 200.00 per month - they sent me an agreement for judgment...stating the above....should i sign? are they still going to try to take me to court?
1 ANSWER
The answer to your question depends on a lot of things: (1) the credit card company; (2) the law firm; (3) the type of agreement; (4) how old the debt is, etc. For instance if the debt is about to go "out-of-statute" or "prescribe" it might not make sense to pay them now, because you will reset that time clock. On the other hand, depending on how reputable the law firm is and how fair they tend to be, this may be the most economical way to resolve the problem.
Answered on May 04th, 2012 at 1:54 PM