What does it mean when a bank or debt collection agency uses the term “pre-legal” and how can Resolve help?

Several credit card issuers will use terms like “Attorney Placement Pending”, or reference the fact that they may soon decide to place your account with a law firm for collection. In several instances the word “may” should read as “will”. In other instances, placing your account for legal collection is mentioned among a couple of other options, such as sending your account to a collection agency, or selling to a debt buyer.

You can typically prevent your account being placed for legal collections, and it is often advisable to do so. Resolve can help you tailor a strategy that will often limit your legal exposure while settling your debts.

In other instances, you may need to accept the fact that your account will be, or has been, sent to an attorney for collection. There are immediate strategies available through Resolve to deal with legal collections, that are effective, and affordable, so be sure to complete your Resolve profile, and get informed.

Some collection agencies and debt buyers have internal teams that are often referred to as “legal”, or “pre-legal” departments. Resolving an unpaid debt when accounts are in these departments will often yield a better savings and/or more flexible payment terms.

Share on facebook
Share on twitter
Share on linkedin

Articles

5 Keys To Successful Debt Consolidation

Just as there are many reasons why people end up in debt, there are many ways to handle getting out…

How to get rid of your debt for good

Americans have debt, and lots of it. Consumer debt has been growing for years. Last year, the figure approached a…

9 ways to avoid student loan debt

For parents and students alike, college is a big and exciting step. But for most families, college also means debt.…
Badge_ssl

We use bank-level security with 2048-bit SSL encryption and will never share your info without your consent

Badge_bbb

HelloResolve, Inc. is an accredited company with the Better Business Bureau​

Badge_cfsi

We were selected as a winner of the prestigious CFSI Financial Solutions Lab by J.P. Morgan Chase

Copyright © 2019 HelloResolve, Inc. All rights reserved