Can my credit card company go back on their word to settle??

Question

Hi. I have a letter from my credit card company agreeing to settle with me for $1,900 from $6,400. The letter says that I have to call them to accept this offer and when I did they told me that my account had been sent to pre-legal and that the offer I received is null and void. Can they do this? Should I send the payment with a copy of the letter??

Answer 1

You have to hire an lawyer and send them legal letter. The lawyer specializing in bankrupticies will be more helpful. You can also sue them in small cliams court. DO NOT pay them without consulting a lawyer.

Answer 2

For heaven's sake don't send in anything. They revoked their offer before you could accept it. If you send in payment now, you will just be paying on the old balance. The letter is worthless, from a contractual standpoint.

They sound like they are trying to confuse you by telling you one thing over the phone and giving you what appears to be a good settlement offer on the other. In the confusion, perhaps some people send in money thinking the written offer is still good. It is not.

Their "offer" in writing is dead because you have received actual notice of revocation. Don't pay it.

Answer 3

It sounds as if they may have put a time limit on the offer and you missed the deadline.  It is not a good idea to send the payment and letter when they have told you they can't accept it.  Talk to them again and ask them what can be done.

Answer 4

I gotta research this one....but for now I'm betting it's one of those "depends on what state you live in" questions.

Don't send them any payment.  DO NOT throw away that letter.  I'm sure a judge would be interested in hearing why they changed their mind also.

Contact a local attorney that specializes in consumer law and see what he says.  You need to get some legal advice from a local attorney who knows the court rules.  For this much money it may be worth the cost of an attorney to look it over.

Answer 5

How old is the debt? What state/province do you live in? Where was the debt incurred (did you live in the same state/province)? Every jurisdiction has different laws about debt.