QWill this contract I wrote for a collection agency fly?
Balance $ 15,387.74
pay to eliminate $ 4,800.00
This letter is in response to your conversation with me on June 29 , in relation to the debt mentioned .
This clear agreement to pay is payable for the amount of $ 800.00 for six months in six consecutive installments starting before 10 and no more than December 10th of July.
Please see the schedule below .
July 10 - $ 800.00
August 10 - $ 800.00
September 10 - $ 800.00
October 10 - 800.00
November 10 - $ 800.00
December 10 $ 800.00
Once this debt. has paid no further attempts to charge your company me and Frederick J. Hanna
I doubt they would accept the terms regarding job loss or illness. This seems to leave open the option on your part to repudiate the contract for non-payment and of course to sue or present for collection before returning to work . This was expected , since they have no assurance that you will never go back to work and continue a contract that promises to pay , ever , imply that there is a legal contract .
Now , without fail-safe , must be in exactly the same position , with demand risk or turning it over for collection if you can not keep your contract . Generally , to obtain a larger deduction , you have to guarantee payment if the amount of indebtedness of another person .
I really do not think this is going to sign . There are several terms in that are clearly not in their best interest . Most notably, they will not worry about disease or mail delays . They will not sign a contract that offers multiple protections and they none .
The conclusion is that the collection agency has the advantage here . Yes , they want your $ 4,800. But be careful , because it will be very easy for you to demand for 15,000. If this were a few hundred dollars, that will probably never make a demand for it. But for an extra 10,000, which certainly would. Then you have a real problem . Is likely to win your claim and seize the property and garnish wages of the total sum .
The numbers here are big enough that he would consult and attorney.