How do you follow up on a PFD letter when sending payment

[Anonymous]

I'm sending off three PFD letters tomorrow. I have no idea what the results will be, but if they agree to the PFD, how do you follow up when sending payment? I don't just want to send off certified funds with no mention of the agreement, etc. Any suggestions?

[Anonymous]

I read someplace that you write on the back of your check that their endorsement indicates that your debt has been satisfied and as agreed they will delete it from your credit file (something like that anyway).  Writing that on the back of the check makes it a contractual agreement.  But, there may be some other ways to do this - perhaps someone with more experience can offer some additional assistance.

[Anonymous]

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mxnuy1 wrote:
I'm sending off three PFD letters tomorrow. I have no idea what the results will be, but if they agree to the PFD, how do you follow up when sending payment? I don't just want to send off certified funds with no mention of the agreement, etc. Any suggestions?

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The most important part of a PFD is a signed letter on letterhead from the creditor. It MUST state that they WILL remove all reference to the account.

Always put PIF in memos and on back of check and add the agreement to back of check.

Each state has their own laws on what is accepted and was is not.

I asked for a payoff amount on an auto several years ago. They mailed me an amount which I knew was $7000 lower then what I thought. I mailed a check,with PIF on it.

A few months later they noticed their mistake. I went to court & they were told it was their mistake & because they cashed the check with PIF on it, I owed nothing & now they would pay all my attorney, and court cost.

This does not mean that this is law in other states. remember many very old laws are still in affect & usually don't get changed.

Always cover your behind & get everything in writting, no matter how simple it may seem.

[haulingthescoreup]

I don't know of anyone who gets their physical checks back any more. My bank does scan cancelled checks, front and back, and I can view them on line. If you had to go to court like Happy Days did, would scanned images be permissible as evidence? just curious--we're running out of original documents to save these days.

[Anonymous]

I have not gotten a cancelled check back from the bank in 7 years. IF I need it, they will send me photo copies of them.

Remember what is accepted in court goes by state law & what the judge thinks.