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Posted: Mon Aug 04, 2008 4:40 am Subject: Release of Liability

Is the release of liability a legit document? I got one from Loan Shop saying they will write off my acct provided i sign it

Bill Millner · Posted: Mon Aug 04, 2008 7:23 am Subject:

I got one too and am looking at this doc and want to be sure it's valid...first thing is it says 'her' instead of 'him' when referring to the borrower in the legal jumbo. 2nd, the person who sent via email hasn't signed it ...

Posted: Mon Aug 04, 2008 7:26 am Subject:

Are they offering to mark your account paid in full in exchange for not suing them for providing a loan to you illegally?

Bill Millner · Posted: Mon Aug 04, 2008 7:31 am Subject:

I don't see anything about PIF ...it said in the email they would write off my account and this document says in the beginning 'in consideration of the premises and other good consideation, the receipt and sufficiency of which are hereby acknowledged by both parties, hereby agrees to the follows' ... and then lists a bunch of sections releasing both sides from oblications (no suits, no blame, no claims assigned, etc)

Posted: Mon Aug 04, 2008 7:35 am Subject:

I've seen where other members have posted this before, so I'm going to let someone else tackle this one, just hang in there and I am sure someone with more knowledge in this area will be around to advise you. Smile