Debt Settlement
Debt Settlement Agreement
Florida
What is a debt settlement agreement?
I am currently in a difficult financial situation and have been struggling to pay off my debt. I have been approached by a debt collection agency to enter into a debt settlement agreement, but I am unsure what this entails and what rights I have. Therefore, I would like to understand the details of a debt settlement agreement before I make any decisions.
1 Attorney answer
Answer
Debt Settlement
Florida
Erik W.
ContractsCounsel verified
A debt settlement agreement allows you to pay a portion of the debt while the rest of the debt is charged off. Debt Collection Agencies typically want you to pay the amount agreed upon within 3 or 4 payments.
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