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I currently have a repayment agreement with a collection…

Customer Question
I currently have a...

I currently have a repayment agreement with a collection firm and have not missed a payment. They now tell me that they cannot offer another agreement. What are my rights/options?

Lawyer's Assistant: What state are you in? It matters because laws vary by location.

Nj

Lawyer's Assistant: Has anything been filed or reported?

They had filed originally and then made a repayment agreement.

Submitted: 8 months ago.Category: Legal
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Answered in 5 minutes by:
12/9/2017
Lawyer: Loren, Attorney replied 8 months ago
Loren
Loren, Attorney
Category: Legal
Satisfied Customers: 39,245
Experience: 30 years experience representing clients.
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Thank you for using JA. I am Loren, a licensed attorney for over 30 yrs., and I am here to help.

I am a certified expert on JustAnswer since 2009, with nearly 100% in 5 star ratings. So, we should be able to work through your problem.

I appreciate your patience as I review your question. I will post my response shortly.

This is general information and no attorney client relationship is established.

The site may ask you if you wish to speak by phone for an extra charge. Many find the phone call to be the easiest and fastest way to get the information they need without posting on a public forum. I am also happy to continue online.

There may be a slight delay in my replies as I am assisting other JA customers also. I will reply to your follow up questions.

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Lawyer: Loren, Attorney replied 8 months ago

If you already have a repayment agreement, why is another one necessary?

Is the agreement in writing?

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Customer reply replied 8 months ago
The agreement is in writing and includes their right to review it after a certain time period.
Lawyer: Loren, Attorney replied 8 months ago

Thank you for the additional information.

Was there a judgment entered? Are they terminating the agreement?

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Customer reply replied 8 months ago
They had a judgement prior to our first agreement. We made an agreement and I paid as agreed.
Lawyer: Loren, Attorney replied 8 months ago

Are they terminating the agreement? What do they want to do now in place of the agreement?

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Customer reply replied 8 months ago
They are not offering a new agreement but said we could continue to make payments.
Lawyer: Loren, Attorney replied 8 months ago

Let's try this one more time...Are they terminating the written repayment agreement? What does the agreement say about the creditor's right to terminate it? Does the agreement have an expiration date?

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Customer reply replied 8 months ago
They set a time frame for the agreement, review it and make another. This time they are saying they can’t make another agreement because the repay amount is too low ($150/mo). They are now not willing to make another agreement.
Lawyer: Loren, Attorney replied 8 months ago

Thank you for your patience and the additional information. Give me a moment to type an answer. It will post shortly.

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Customer reply replied 8 months ago
Their agreements always say they have the right to terminate if payment is not received.
Lawyer: Loren, Attorney replied 8 months ago

I am sorry to hear of your dilemma. I realize how frustrating this is for you and I hope to provide you information which is accurate and useful, even though it may not be the news you were hoping to get.

If they have a judgment and the right to review the agreement and terminate it, pursuant to the review, then your options are very limited and would need to relate back to some default by the creditor under the terms of the agreement, which you are not alleging in the facts of the question.

Otherwise, they are allowed, with a judgment, to accept payment or demand the entire judgment paid immediately.

With the judgment, if they cancel the payment plan, they can attach your personal and real property or garnish wages and accounts until the judgment is paid.

I am sorry. I wish I could tell you otherwise, but I do not want you spinning your wheels on this.

See if you can motivate them to accept a new written agreement (without the unilateral right to review and cancel) through negotiation. Offer some sort of concession, such as, for example, a larger lump sum immediate payment in exchange for a new payment plan.

If (and only if) you are completely satisfied that your question is answered, please remember to leave a favorable rating (click 5 stars in the rating section on this page). It is the only way that I am credited by JustAnswer for answering your question.

There is no additional charge to you for rating me favorably.

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Customer reply replied 8 months ago
Thank you for the information.
Lawyer: Loren, Attorney replied 8 months ago

You are very welcome.

If you have no further questions, and have not yet done so, please remember to leave a favorable rating (click 5 stars in the rating section on this page). It is the only way that I am credited by JustAnswer for answering your question.

There is no additional charge to you for rating me favorably.

A bonus is not expected, but is always appreciated.

Thank you!

Loren

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