About Michael Brotherton Expertise Consumer/Debtor Rights Advocate.
Mike Brotherton is a negotiator with over 30 years experience in consumer lending and collections. Mike has 30 years in the credit and collections industry as a former loan officer, debt collector and manager of two finance companies over several years.
Mike is well versed in Loss Mitigation practices and the legal collection process. He has helped literally thousands of people over many years overcome serious financial problems such as foreclosure, creditor lawsuits and abuse by debt collectors. For more information about resolving your "financial emergency" visit www.financialemergency.com.
FinancialEmergency.com is a consumer web site which actively promotes Fair Debt Collection Practices and other consumer protection laws. We teach DEBTOR RIGHTS and enforcement of those rights. The more informed you are of your rights and the credit collections practices of creditors the more peace you can have dealing with your FINANCIAL EMERGENCY.
Most financial problems are fairly common and as such have some very common solutions. The key is understanding your rights in the collection process and how to enforce them if need be.
Primary business- Debtor Rights Advocacy and Debt Mitigation relating to foreclosure, creditor lawsuits, and other serious financial problems.
www.financialemergency.com (copy and paste in browser).
Experience 30 years experience negotiating disputes and resolving financial issues related to consumer debt, corporate debt, and mortgage restructuriing.
Let me first thank you for taking the time to read my post.
My husband was contacted by a Unclaimed Asset Recovery company regarding an allegedly unclaimed asset he had. They asked him to sign a piece of paper agreeing to letting them recover the assets for a 25% commission (they would not tell him what it was exactly). After researching and finding out that the company was legit, he did sign the paper. It turned out to be an account he knew he had, but we had moved and they had "lost track" of him. He is wondering what to do so he could get the money without going through this agency, even though he signed an agreement with them to recover the assets.
I am wondering how legally binding this document is, (the agreement wording says "legally binding"), if it has not been overseen or signed or witnessed by a legal authority of any kind?
I appreciate any thoughts you might have on this matter.
Thank you,
Talita
Answer I would say you probably need to check with an attorney specializing in contract law for your state. It is difficult to say since some attorneys are more skilled than others in contract law. You may be able to get out of it but it will probably cost you to do so. This may be one of those situations where you have to bite the bullet and move on. This also depends on the amount of money you are talking about. If it is substantial it may be worth hiring an attorney, however if it is a smaller amount it wouldn't be cost effective to hire an attorney it may cost you more to fight it than the fee they are charging.
