I guess I need to try doing a settlement with a CC . I have read enough on this forum that if we do reach a settlement agreement, I need to get it in writing before I pay any money to them. Right? So, if do we reach an agreement, for example say 50% , what prevents them from selling the remaining balance due to a collection agency or JDB who will then try to collect on that remaining amount? Is there a certain type of settlement or language needed in the settlement agreement that will prevent a future JDB/CA to come after the balance??? I tried to research this on the forum but am getting confused....
Yes, you definitely need to get it in writing. Very important. And make sure your settlement agreement says that payment satisfies the debt in full. Then hopefully you'll never have to deal with the CA selling the remaining balance to another CA down the road.
