conditional letter w/ payment???

Discussion in 'Credit Talk' started by j.j., Apr 27, 2001.

  1. j.j.

    j.j. New Member

    hi ...
    i have a "120 days late" closed account sold to a collections company. i spoke to a rep and they refuse to delete or change it to a neutral status.
    i would like to send the payment & letter stating upon accepting the payment, that they remove the 120 day late status and give me a "current or pays as agreed" status.
    would this work ???????
    i live in florida and not sure if their are laws favoring this action.
  2. lbrown59

    lbrown59 Well-Known Member

    I don't think any state has a law against it:
  3. Concerned

    Concerned Well-Known Member

    I did exactly that through a lawyer. The first 2 resubmitted a new date that let the listing fall off the next month (w/o my asking just did it upon receipt of payment). The last kept verifying. On the fourth letter they deleted. I would have taken them to court and sued if the fourth letter did not work. Just realize if they accept the payment you may have to go to court for damages because nothing is forcing them to keep their end of the bargain. But worth a shot. . .
  4. Crdt Dfnse

    Crdt Dfnse Well-Known Member

    Using A Conditional Endorsement

    Iâ??d suggest being very careful when using a conditional endorsement device, because the collection agent isnâ??t always bound to adhere to it. Unless there is factually an agreement to remove the negative item(s), the collection agent could basically ignore the statement as being unilateral. Granted, some have had unilateral (one-sided) success with this method, but that stems more toward agency/creditor laziness than legal affect.

    In California, for example, many consumers attempt using this course only to find the collection agent has scratched out the conditional endorsement (on the check/money order/payment back). Unless an accord (which is essentially what youâ??re aiming for) is factually reached between both parties, one cannot make a one-sided demand for satisfaction. That is to sayâ?¦ Using this method as youâ??ve indicated offers no legal influence to force demands upon the creditor/CA, unless an agreement to such was in place and active; as in the case where they changed terms after acceptance.

    What you could end up doing (depending on certain dates) is resetting the reporting period, and causing yourself more problems by acknowledging the debt. To help avoid this, I further suggest that you consult a collections oriented lawyer, and/or logon to and research Florida statutes regarding â??accord & satisfactions.â?

    Keep The Faith,
    Anthony Villaseor,
  5. lbrown59

    lbrown59 Well-Known Member

    ====Put the payment in escrow and let the escrow make it after the item is removed:LB 59
  6. CYA

    CYA Well-Known Member

    good idea! (escrow) Have you tried this? If so, were thay receptive to this idea?

    As for the conditional endorsement, you might want to check the legality in your state (if you have a lawyer, I assume it is ok), I believe this info is on the Carreon and Associates website.
  7. CYA

    CYA Well-Known Member

    Sorry I lost all my links recently!

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