Personal Check With Conditions?

Anonymous · ‎02-08-2013

Hi again folks,

I'm making great progress with my credit and now I'm down to the final items - 4 judgments. My dilemma, though, is that I was soooo dumb by not taking care of these right away. I had no idea they could incur 12% interest - for the past 7 years - which, obviously doubles the balances. I've sent settlement offers, but the CA's won't budge and want the balance in full.

Does anyone know if you can send a personal check with conditions? Like, could I mail a check to the OC for the full judgment amount (less the interest) and make it non-transferrable to the CA somehow? Is it possible to include a statement that by cashing the check, they agree to accept that payment as full settlement...or else return the check?

Curious if anyone has ever tried this before...

Thanks

Shogun · ‎02-08-2013

I've seen others post conditional endorsement stipulations on their checks. Just to let you know, most states don't allow that type of thing.

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Anonymous · ‎02-08-2013

Thanks Shogun, I appreciate the feedback. I wasn't sure if it's legal or even if it would be acceptable. I had thought that maybe if the OC saw an actual check, they may go for it vs. a letter saying I'll pay something. Money in hand is always better than a letter to request a settlement, which then requires another letter response.

Thanks much.

Anonymous · ‎02-08-2013

Send them a letter with your condition and ask them if they would accept that in exchange for your money. Tell them you require their response in writing. If they write you back stating that they've accepted your offer and to remit payment, then send them the money with a copy of your original letter and their repsonse. Keep a copy of all of that. Thats a formal agreement for them to do whatever was agreed in exchange for the money.