Questions & Answers

Ask a lawyer
All cities, UAE

Can I take the settlement for credit card offered on the phone by collection agency?

I agreed with the collection agency regarding my unpaid credit card dues and they sent an email to me stating that as agreed, in the telephonic conversation, I can pay the amount as installments and close the cards.

Is it valid to accept it as email from collection agent or I need to get the settlement agreement from bank on their letter head?

Kindly advise.

Midas Legal Consultants
Chat Hire
Meet
1 Jul 2022, 11:39

Dear questioner,

Here's the answer to your question:

Generally, settlements letters offered by the collection agencies are preapproved and accepted my the bank management, thus, it is legally binding and acceptable.

However, in your case as I understood, the bank had offered you a number and agreed upon a certain number and a payment plan over the phone but no email confirming the same.

Thus, I would not advise you to go further on this payment.

What you need to do:

You can contact our office and we will get you even a better deal with less amount, delivered to your mail box officially containing numbers approved and accepted by the banks management.

Feel free to contact us regarding the same.

Fixed-fee services
3 3 available services •  View all
Get quotes from lawyers
Find the right lawyer for your legal needs. Submit your request and get multiple competitive offers from qualified lawyers.
Looking for something else?
Ask for advice from a lawyer
It’s free and anonymous
No registration needed
Ask a lawyer