Power of Attorney
Date: Thu, 10/09/2008 - 10:05
The way it was explained to me, POA only gives you permission to
The way it was explained to me, POA only gives you permission to speak to a third party.
Definition from Nolo....
A document that gives another person legal authority to act on your behalf. If you create such a document, you are called the principal, and the person to whom you give this authority is called your attorney-in-fact.
However unless the 3rd party is an attorney, you do not have to honor a POA.
Power of Attorney can do many things including legally taking al
Power of Attorney can do many things including legally taking all of your money, sell your house, divorce your wife, etc.. depending upon the scope of the authority. The title Agent-in-Fact is a fancy way of saying he/she has POA authority. It also gives the negotiator the permission to speak on your behalf. You have the right to revoke the POA at any time. If you do not trust the negotiator revoke the POA and start over. In any case DO Not talk to the creditor without speaking to the negotiator first. .
