I am new and would appreciate any advice on what my first step should be. I have a FNNB Lerner and Beall's charge off, and also a Verizon collection account. I have the money and want to get these off my reports ASAP. Should I ask for validation? How long does this usually take? Should I just send them an accord and satisfaction letter and check for the full amount and place the restrictive endorsement on my check that they remove it from my credit report? Which is faster and with best results? Is the restrictive endorsement enforceable because I live in Texas or would the creditor have to be in a state where it is enforceable? Thanks for any advice out there.
I was reading a case the other day where the judge ruled the restrictive endorsement was not accord because the parties had not reached a meeting of the minds. The Defendant in that case had made a settlement offer of $500,000 and the Plaintiff jumped on it. The offer had been approved by the Court, etc. but when the Defendant noted the error, they went back to Court saying it was a typographical error, etc. The Court ruled in the Defendant's favor. Sooooo...it seems to me that a restrictive endorsement is only good if you can prove the other party's intent was that the check constituted accord. Otherwise...it isn't going to help. L
