Can Debt Buyers sue for higher amount if I'm making agreed upon payments each month?

[gcmoore]

Yes I know many say don't pay them. However, I chose to do so, and have a "hypothetical" question, nothing like this has happened. If a debt buyer has agreed to accept monthly payments on a settlement amount, if I'm making payments as agreed, can they still decide to sue later for a larger amount with interest and other fees if I have a letter from their office showing the monthly payment amount and settlement agreement?

Also, on my credit report should it only show my settlement amount, or will it show the total amount with interest that continues to grow over the years while I'm making payments, BUT also that I'm making payments on a lesser settlement amount which is all they're expecting? Thanks

[CarolinaBlueEyes]

IF you have nothing in writing they have carte blanch.. and if they sell it to someone else its a whole new ball game.. so yes in short its possible..

[MissaFraQ]

It's also highly likely they will do just as CBE says. A JDB will resell it once they have squeezed you for all they can.

[divemedic]

If you do not have it in writing, there is nothing stopping them from suing, or even using your account info to take whatever they want from your account.

If you do have it in writing, you may have done what is called an A&S, and you may have generated an all new contract, depending on the wording. This can have many negative effects, including allowing an all new tradeline to be generated, while allowing the old TL to be reported as a paid CO. This new contract would be an all new SOL.

Of course, you could have a completely honest JDB, but the ball is entirely in their court.