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Originally Posted by Livefire
I think some research might done concerning accord and satisfaction. Using the state laws of MI.....If you send a payment with the verbiage "Payment In Full" notoriously written on the check, money order....then the debt is extinguished. Of course, a letter explaining that you have questions concerning the matter and this is your attempt to settle the matter will go a long way if you have to fight in court. If the instrument is cashed, the debt is history!!! Doesnt matter if the fools cross out the statement in an attempt to novate your offer. Check out this collection attorney site! :-D
http://www.michiganconstructionlaw.n...News/News6.asp
http://courts.michigan.gov/supremeco...erm/126958.pdf |
If you read the current cc agreements when recieving a new card they now contain sentences/paragraphs that state they do not accept any of those sort of 'accord and satisfaction' written endorsements on checks sent to them. Since these payment address' are usually just sent to some check clearing facility. Some people have been able to prevail. But that debt collector group NARCA Is lobbying(greasing) assorted lawmakers to get rulings like this overturned. And they are attempting to get new rules and laws enacted to make it even easier for them to screw consumers at an even faster pace. Arbitration is just a first step in this this brave new world of credit and debt collection practices.......