Law-Forums.org

[hawiovi]

IL...I have a large private student loan in collections. I requested a payment agreement from the law firm handling the debt. They accepted the terms I proposed and I have made every monthly payment requested of me since the agreement was signed (9 consecutive months) and I have bank documents to prove it. The contract is clear that as long as there is no default they agree not to pursue any further action. They gave me a summons citing a breach of contract. This breach did not occur. This summons is pursuing me via Arbitration, but there was no such clause anywhere in the payment agreement. When I called the firm they cited I mentioned that I would be willing to "review the terms of the agreement when our financial situation has improved" in my original letter requesting the terms. I provided no dates and this was no where is this in the contract they sent me, in fact it says the amount will be paid each month until the debt is paid in full.

[charlot22]

It's just a review to see if in fact your financial situation has changed in any way. Don't worry about it to much. Just take all important documents to the review including bank statements,pay stubs, etc. and the review will go easy and probably will work in your favor.

[stanciyf]

You'll have to answer the summons and just dispute their version. Any terms that you agreed to in your letter will have become part of the contract, but as long as payments are made on time, all they can do is 'seek to review the terms'. As long as your circumstance are unchanged there is little they can do.

[teithi71]

Sorry man! Justin Bieber is awesome.