Has anyone filed a lawsuit (in small claims court) to enforce a restrictive endorsement payment (in full) of a collection account. I am located in Texas and wish to learn; if the oc accepts and deposits a check to settle and account in full and then refuses to delete the account from my credit report as stated in my restrictive endorsement letter forms the basics for a breach of contract charge?
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"Has anyone filed a lawsuit (in small claims court) to enforce a restrictive endorsement payment (in full) of a collection account. I am located in Texas and wish to learn; if the oc accepts and deposits a check to settle and account in full and then refuses to delete the account from my credit report as stated in my restrictive endorsement letter forms the basics for a breach of contract charge? " -According to this site: http://www.carreonandassociates.com/4settle.htm Texas is one of the states which restrictive endorsemets are legally binding: " Some collection agencies will agree to settle with you for far less than you owe and then turn around and hire another collection agency to collect the difference. However, in many states this is illegal. Once a creditor deposits or cashes a full payment check, even if she strikes out the words payment in full or writes "I don't agree" on the check, she can't come after you for the balance." -BUT, I would suggest you contact the consumer affairs, or similar office, in your area to MAKE SURE before you file. -Breach of contract is probably not the best route. Sure you may win and recover $, BUT IT DOES NOT EFFECT your credit report. -A copy of the cancelled check, along with a DISPUTE LETER TO THE REPORTING AGENCY, DISPUTING THE STATUS, should clear this up. IF THEY COLLECTION AGENCY VERIFIES THE DEBT AS NOT PAID, and the reporting agency also VERIFIES, you may have a good case for FCRA violaiton against them BOTH.
