I received a settlement letter from my XYZ credit card company. It shows the amout we talked about, & how it will be reported to the reporting agencys ( settled in full account with a zero balance)I know, I know next it says you will not be obligated to pay the remaining balance nor will the remaining balance be sold to a third party. The next line reads: (this is my question) future account activity that results in a credit balance will become the property of XYZ credit card company What does this mean?
I think that protects them in the case that any charges that are "not yet billed", are not part of this settlement/agreement. Stuff that for some reason, you bought but was not part of this statement or billing collection but that belongs to you. I am not a lawyer, but that is how I would read it.
