Letter of Proposal

Greetings!

the debt collector just called me and agreed to the terms of paying just the principal amount of my credit card statement. he said they will send me a letter of agreement....my concern is what steps can i take to check the authenticity of the agreement and what other documents should i demand from them. i just want to make sure na hindi masasayang yong ibabayad ko monthly..dahil i've been tricked a few times by these collectors. i would appreciate your kind attention. thank you and regards.

puntahan mo ng personal sa office nila or pay directly sa bank AFTER you get that agreement. tama ka, maraming manggogoyo.

@foobarph thanks a lot for the reply. I just received the proposal, amt stated as agreed. kaya lang tama ba na walang sign ng credit card company, although all payments naman should go to the bank but it's like an agreement between me and the law firm who claimed to be handling my delinquent acct. is it legal that the bank refuses to deal with you directly if they have forwarded the case to a law firm? can i demand for an endorsement letter stating that my acct has been endosed to this firm. pls help me, need any legal advice before i sign the paper.

Aloe Rock wrote:@foobarph thanks a lot for the reply. I just received the proposal, amt stated as agreed. kaya lang tama ba na walang sign ng credit card company, although all payments naman should go to the bank but it's like an agreement between me and the law firm who claimed to be handling my delinquent acct. is it legal that the bank refuses to deal with you directly if they have forwarded the case to a law firm? can i demand for an endorsement letter stating that my acct has been endosed to this firm. pls help me, need any legal advice before i sign the paper.

hi aloe, normally ganyan po sa banking, pinapa-trabaho nila sa mga collecting agencies yung mga deliquent accounts.

is it legal that the bank refuses to deal with you directly if they have forwarded the case to a law firm? <- kung may kontrata ang banko at law firm, legal po ito. pero kung wala at DUDA talaga kayo, better not sign anything.

can i demand for an endorsement letter stating that my acct has been endosed to this firm. <- definitely, karapatan nyo po ito dahil gusto nyo lang naman po na mag ingat sa panahong ito.

in all case, kung di ka pipirma, i am expecting na idedemanda ka nila for civil case for collection of sum of money at kapag nasa court na ito, may chance pa naman po kayo na makipag-areglo. ang magiging bala po ninyo ay yung proposal na binigay nila.

better consult a lawyer na rin personally to give you further advice po

foobarph wrote:

Aloe Rock wrote:@foobarph thanks a lot for the reply. I just received the proposal, amt stated as agreed. kaya lang tama ba na walang sign ng credit card company, although all payments naman should go to the bank but it's like an agreement between me and the law firm who claimed to be handling my delinquent acct.  is it legal that the bank refuses to deal with you directly if they have forwarded the case to a law firm? can i demand for an endorsement letter stating that my acct has been endosed to this firm.  pls help me, need any legal advice before i sign the paper.

hi aloe, normally ganyan po sa banking, pinapa-trabaho nila sa mga collecting agencies yung mga deliquent accounts.

is it legal that the bank refuses to deal with you directly if they have forwarded the case to a law firm? <- kung may kontrata ang banko at law firm, legal po ito. pero kung wala at DUDA talaga kayo, better not sign anything.

can i demand for an endorsement letter stating that my acct has been endosed to this firm. <- definitely, karapatan nyo po ito dahil gusto nyo lang naman po na mag ingat sa panahong ito.

in all case, kung di ka pipirma, i am expecting na idedemanda ka nila for civil case for collection of sum of money at kapag nasa court na ito, may chance pa naman po kayo na makipag-areglo. ang magiging bala po ninyo ay yung proposal na binigay nila.

better consult a lawyer na rin personally to give you further advice po

I agree with foobarph.

However, I think that you could get an endorsement from the Bank. Just write their legal department stating that:

- you're in the process of settling the debt
- you just want to make sure you're talking to the right people
- you want a written confirmation that the people you're talking to are their authorized agents.

Remember, banks are interested in getting you to settle, so I think they will respond to your letter if it means they get paid eventually.

If they don't respond, well, Foobarph is right. You always have mediation sessions once your case hits the court. Settle it then.

Hope this helps.