Cash CallCash Call Inc. Rip off/ Collections advise 101 TxFountain Valley California

Restrictive endorsements can work and can hold up in court if done right. If you put on the front and back of the check: The cashing of this item constitutes full and final payment and you accompany that check with a cover letter explaining that this is full payment then the creditor may have to abide by that. Why? Because it is a form of contract. If the company depositing the check does so even though you have placed restrictions on it then they will have trouble proving their claim in a court of law because and Accord and Satisfaction has been created through the offer and acceptance. Now if they cross out the language and still deposit it then the laws in your state would have to determine who is right. See more about which states apply. California has an exception to this rule. See link above.

We also recommend that you use the "right to object." By notifying the creditor before you send payment you have given them ample time to object. By following up with the restricted payment and a letter stating you notified them over 30 days ago and have yet to receive an objection, that constitutes their agreement. Keeping these records will prove that you notified them of your intent and additionally reminded them when you sent the check and they still cashed it. It is not recommended that you try this with your regular debts just to avoid full payment, this should be done on collection debts, disputed balances and the like.

Just remember, credit is a luxury. Not everyone has it and some do not deserve it. If you have good credit keep it that way and you will be rewarded. If your credit is less than desirable put actions into motion by challenging, settling and negotiating your negative items. Once you rebuild your credit don't do anything to jeopardize it again. Next time you may have NO success in rebuilding it. Finally, review state collection laws. The complete list of laws, bonding, license information, interest that can be charged and judgment/statute info can be found here.

Derrick
fort worth, Texas
U.S.A.