Unsolicited Settlement offer
Date: Sat, 08/04/2012 - 14:44
Nelly: I'm considering sending unsolicited SO's to creditors. Experience tells us "a bird in hand is worth two (certainly more than one) in the bush," and everyone knows the phrase 'money talks and b.s. walks." I want to set up a fait accompli. Along with the written offer letter I'm thinking of sending along a check for the exact same amount of the offer, with the notation written in the 'for' or 'memo' portion of the check "for full settlement act# 987654" and the phrase embedded in the letter "processing/depositing of attached check constitutes acceptance of this offer in its entirety." Two copies of this same letter, one of which gets signed by an officer of the creditor (or CA) who is empowered to accept such an offer, and that copy is to be returned to me in the envelope (with a stamp) which i've also included. Seems 'ironclad' to me. Do you see any way a creditor (or a CA) can accept and process a check in this case withOUT full acceptance the offer? Thanks, Dave
This would have been a great tactic if only the facts and the la
This would have been a great tactic if only the facts and the law were radically different. I liked the proverbs and the French but don't mistake that for a strategy. Cardmember agreements, as well as the law of most states, typically provide that restrictive endorsements on checks have no force or effect, and that the payment can be deposited notwithstanding any invalid endorsement, and just credited toward the entire balance.
Thanks both of you for the responses... ... and incorportating s
Thanks both of you for the responses...
... and incorportating such a statement into the body of the letter....? non-binding as well?
