ShouldI appoint a credit repair agency as “Attorney-In-Fact”?
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ShouldI appoint a credit repair agency as “Attorney-In-Fact”?
Reviewing a contract from a credit repair agency and the last section requires the client to appoint the agency to serve as the attorney-in fact. The paragraph that reads”My attorney-in-fact is empowered to take all further action (with regards to credit bureau negotiations), including the payment of expenditures and the preparation and execution of all documents, as the attorney-in-fact deems necessary or appropriate in order to fully effectuate these matters. The “payment of expenditures” has me concerned. Should I be?
Asked on August 24, 2010 under Bankruptcy Law, Pennsylvania
Answers:
M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney
Answered 13 years ago | Contributor
You have good radar and a good sense of what could go terribly wrong with executing a document such as the one that you have described here. I would never execute such a document but I bet that they are standard in the industry. I would check with your state attorney generals office as to the company and see if there are any complaints registered against them anywhere. I would not allow someone to authorize payment on my behalf. I would want to know what the offers were that were on the table and then make a decision myself. You have ever right to know what is going on each step of the way. Do not lose control. Good luck.
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