cancel
Showing results for 
Search instead for 
Did you mean: 

Just a wierd question.

tag
Anonymous
Not applicable

Just a wierd question.

Could you send a check to a collection agency a check for payment on a collection account and on the back of the check write " By cashing this check you are agreeing to delete all negative info from credit report" or something like that? To get the negative info deleted?
Message 1 of 9
8 REPLIES 8
Anonymous
Not applicable

Re: Just a wierd question.

good question......I know that in some states if you write PIF  in memo   thats it!!  They cash it & can not come back for more.
 
Only guessing but I bet the AGs office could answer that. After all we all get crap from CCC  to sign up for ID protection & that check says * you are inrolled by cashing check*


Message Edited by HappyDays on 08-27-2007 05:06 PM
Message 2 of 9
Anonymous
Not applicable

Re: Just a wierd question.

Dont think it would anymor than writing Paid in Full in the memo line.  Can't hamstring em like that unfortunately.
Message 3 of 9
illcrew3
Regular Contributor

Re: Just a wierd question.

It's called a "restrictive endorsement". I got result with this from time to time. If they cash the check and do not comply with the restrictive endorsement, the returned, cashed check can hold up as  a contract in court. I wrote "By cashing this check COMPANY NAME agrees account ACCOUNT NUMBER is paid in full and will be entirely deleted from all 3 major credit bureaus. Make sure to write it on the front and back of check.


Message Edited by illcrew3 on 08-27-2007 06:26 PM
Message 4 of 9
Anonymous
Not applicable

Re: Just a wierd question.

so does that mean It can work then?
Message 5 of 9
Anonymous
Not applicable

Re: Just a wierd question.

ohhhhhhhhh I like that!!!
Message 6 of 9
illcrew3
Regular Contributor

Re: Just a wierd question.

I just edited with more details. I have had two collection agencies comply with it.
Message 7 of 9
Anonymous
Not applicable

Re: Just a wierd question.

NRS 104.3206 Restrictive endorsement.
1. An endorsement limiting payment to a particular person or otherwise prohibiting further transfer or negotiation of the instrument is not effective to prevent further transfer or negotiation of the instrument.

2. An endorsement stating a condition to the right of the endorsee to receive payment does not affect the right of the endorsee to enforce the instrument. A person paying the instrument or taking it for value or collection may disregard the condition, and the rights and liabilities of that person are not affected by whether the condition has been fulfilled.

3. If an instrument bears an endorsement described in subsection 2 of NRS 104.4201 or in blank or to a particular bank using the words “for deposit,” “for collection,” or other words indicating a purpose of having the instrument collected by a bank for the endorser or for a particular account, the following rules apply:

(a) A person, other than a bank, who purchases the instrument when so endorsed converts the instrument unless the amount paid for the instrument is received by the endorser or applied consistently with the endorsement.

(b) A depositary bank that purchases the instrument or takes it for collection when so endorsed converts the instrument unless the amount paid by the bank with respect to the instrument is received by the endorser or applied consistently with the endorsement.

(c) A payor bank that is also the depositary bank or that takes the instrument for immediate payment over the counter from a person other than a collecting bank converts the instrument unless the proceeds of the instrument are received by the endorser or applied consistently with the endorsement.

(d) Except as otherwise provided in paragraph (c), a payor bank or intermediary bank may disregard the endorsement and is not liable if the proceeds of the instrument are not received by the endorser or applied consistently with the endorsement.

4. Except for an endorsement covered by subsection 3, if an instrument bears an endorsement using words to the effect that payment is to be made to the endorsee as agent, trustee or other fiduciary for the benefit of the endorser or another person, the following rules apply:

(a) Unless there is notice of breach of fiduciary duty as provided in NRS 104.3307, a person who purchases the instrument from the endorsee or takes the instrument from the endorsee for collection or payment may pay the proceeds of payment or the value given for the instrument to the endorsee without regard to whether the endorsee violates a fiduciary duty to the endorser.

(b) A subsequent transferee of the instrument or person who pays the instrument is neither given notice nor otherwise affected by the restriction in the endorsement unless the transferee or payor knows that the fiduciary dealt with the instrument or its proceeds in breach of fiduciary duty.

5. The presence of an instrument of an endorsement to which this section applies does not prevent a purchaser of the instrument from becoming a holder in due course of the instrument unless the purchaser is a converter under subsection 3 or has notice or knowledge of breach of fiduciary duty as stated in subsection 4.

6. In an action to enforce the obligation of a party to pay the instrument, the obligor has a defense if payment would violate an endorsement to which this section applies and the payment is not permitted by this section.

Message 8 of 9
Anonymous
Not applicable

Re: Just a wierd question.

Further it is considered credit fraud to remove acurate info from a credit report.  You may be able to talk a collector into doing so but you cannot strong arm them
Message 9 of 9
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.