Do I have anything to worry about if I have been paying something monthly to a debt collector?

I have been paying a debt collector and now I am being sued because I stopped paying a certain amount. I am however still paying them, just not the original amount that they said I had to pay.

Asked on October 18, 2011 under Bankruptcy Law, Indiana

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 9 years ago | Contributor

The fact that you are paying something doesn't matter UNLESS you are paying the amoung agreed to by the debt collector. When a debt is past due, the creditor or its debt collector is entitled to full payment of everything that is owed--they legally do not need to accept anything less than that. If they should agree to accept partial payment or payment over time (i.e. a payment schedule), that is their choice; they can't be forced to accept any payment short of payment in full. If there is an agreement between the two parties, debtor and creditor, to some payment schedule, then so long as the debtor meets that schedule, the creditor or debt collector cannot sue. But if the creditor breaches the agreement by paying less than the creditor/debt collector agreed to, the creditor or debt collector can sue.


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