Re: Debt owed

Posted by Drew (24.59.25.2) on July 17, 2004 at 13:08:48:

In Reply to: Re: Debt owed posted by AlreadyPaidOnce on July 17, 2004 at 11:28:57:

That might only be if the account was current to start with. Once an account becomes delinquent where the debtor is behind, the contract has already been broken and the creditor or the collection agency who it is sold to does not have to accept anything less than the total amount due.

You would have to check with a consumer lawyer in Arkansas as every state has its laws, but if there is a rule like that, in my personal opinion, I would think that it would apply to current accounts in good standing and not to delinquent accounts.

I am not a lawyer so you are best served trying to find a lawyer who is familiar with credit laws in your state.

However in principal a creditor does not have to accept anything less than the total amount due if they choose to.

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