I have a past due Macy's account that has now been closed. That reflects horribly on my record, does anyone have any advice on how to get this removed? I have the money to pay them NOW, can I maybe work out a deal with them that if they remove all negative statements from my CC regarding the account that I'll pay them in full? Any thoughts? Thanks!
That's what I would do. And don't send a check with some note about if 'you cash this check you agree ....', those do not stand up in court in some states. Send a letter to them with your settlement offer and have them sign it and return it to you. Then pay them. If they do not delete it is pretty easy to remind them they agreed when they see the signed letter you give the Judge. There is a good sample letter for this in the letters section of this forum.
Restrictive Endorsement is the general term. And you're right it doesn't apply in all states. But you can look up the rules for your State and the federal law UCC 1-207. You search on "full payment checks" or "restrictive endorsement" In some states the party you are sending the check to can just write "without prejedice" or "under protest" or similiar and the RE has no effect. In Colorado, if it goes to a PO money drop box it has no effect, it has to go to someone like a CSR. Also in Colorado, if they mistakenly cash the check they can send you back a check for the amount and the RE has no effect.
