Check by Phone Option - Best Way to Pay Creditor?

[MortgageMinded]

I am curious, what is the best way to payoff a CA, check by phone, credit card or secured funds (cashier's check / money order)?

I tried to make a settlement with one creditor today who insisted that I give them a check by phone to secure the settlement.   I thought that this practice could be abused as they could post whatever they want and i'd be liable.   The CA CSR was fairly adamant and pushy about securing the funds.   Which led me to believe they'd accept a settlement on their terms, but could reneg in an instant for the full amount without a letter stipulating the settlement agreement.  I asked the CA to please send me a setllement letter and I will send a cashiers check /money order, but communications with the CA were at a stand still on the checking account.  

So my questions are:

1)  Do they legally have to accept ONLY checking accounts?  Money's green right?

2)  How do you track a money order / cashiers check to verify it was paid and for proof of payment?

3)  Is this legal?  Can a company ONLY accept a check by phone?   This makes no sense to me.

4)  Isn't a settlement offer typically good for 30 days?

Any advice?

[policebox]

Get the settlement offer in writing. This can be something as fast as an e-mail or a fax. Mail the CA a certified check or money order. Never in a million years am I giving my checking account information to a CA over the telephone (or even in writing with a check).

If they are serious about resolving the debt, then they will send the settlement offer in writing. If they won't, then they can continue to eat crow.

[MortgageMinded]

While I agree with your response, it apepars that MOST not ALL want some sort of security against the settlement.   I am considering sending all future settlement offers to CA's via mail or fax.   I really don't want to have to deal with a CSR who only wants to get me to pay double for a debt they paid pennies on the dollar.

[notfancy]

They work on commission. If they secure a payment from you with a check by phone, that locks you in as theirs, so no one else can call you or collect commission on you for payments that you make.

Check by phone isn't necessarily bad, but I suppose it depends on the company. If they are reputable, you'd be safe, but absolutely get the settlement offer in writing.