Does a debt collector have the right to demand a certain amount of money and date to pay off a loan you owe, even if you tell them you don’t have it?

Get Legal Help Today

 Secured with SHA-256 Encryption

Does a debt collector have the right to demand a certain amount of money and date to pay off a loan you owe, even if you tell them you don’t have it?

Recently a paralegal had called me to work out an agreement to pay off a loan I borrowed a couple of years ago before the company takes me to court. I had made an agreement before with a debt collector to take a certain amount out my check each month until it was paid off but they stopped collecting for some reason. Now this paralegal called me to work something out but instead of coming to an agreement on an amount that I can pay, he only wants a certain amount and nothing less and by a certain date. What’s the best thing to do in this situation?

Asked on September 26, 2012 under Bankruptcy Law, Louisiana

Answers:

eric redman / Redman Ludwig, P.C.

Answered 8 years ago | Contributor

they have the right to demand any amounts because it is all due now legally.  you could just go ahead and pay what you want to, but they can file suit anyway.  once they sue you, they can garnish wages(25%). if you have enough debt you could consider bankruptcy


IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.

Get Legal Help Today

Find the right lawyer for your legal issue.

 Secured with SHA-256 Encryption