I have been contacted by a law firm/collection agency which states I owe a credit card company 26K for unpaid credit card payments. The person who committed fraud against me for this amount has moved to another state, although he did sign a Letter of Financial Responsibility from the credit card company, giving his name, ss number, etc and stating that he would repay that loan to the credit card company. I am 62 years old and working fulltime. Should I write a validation of debt letter to the company and/or talk to one of the firm's representatives about this? I have already sent a certified/return receipt requested letter with all my information to the company, but they still sent me a letter stating that they are going to take action in thirty days. My only other recourse, it seems, with my full time job being a second career, is to "retire" again and collect my SS benefits, along with my other retirement benefits from my previous career, which they couldn't touch. Under these circumstances, and were I found to be responsible to pay back the debt, would I have a leg to stand on to negotiate a settlement which would allow me to continue working until I reach 66 (my goal)?

ScottGem

If I understand you, someone used your card and racked up over $20K. For some reason this person was not criminally prosecuted, but signed a letter acknowledging responsibility and offering to repay. However, he hasn't done so the the CC is coming after you.

You really need to consult with an attorney here. I do not know whether this Letter of Financial Responsibility is binding on the CC, I doubt if it is. That means, since you are the signator on the account its you they come after. If the letter is not binding, then YOU have to reach some settlement with them and then sue the person who signed the letter to collect from them.