Send money with deletion letter

[simplegirl]

Can i send a letter stating if you cash this you agree to delete from all three credit bureaus and the debt is satisfied? I wanted to send it to conns, Verizon Wireless, txu energy, and navy federal. Will they delete it and if they don’t will I be able to send that letter and proof they cashed it to the credit bureaus to get it deleted?

[Remedios]

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@simplegirl wrote:

Can i send a letter stating if you cash this you agree to delete from all three credit bureaus and the debt is satisfied? I wanted to send it to conns, Verizon Wireless, txu energy, and navy federal. Will they delete it and if they don’t will I be able to send that letter and proof they cashed it to the credit bureaus to get it deleted?

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Imagine getting a traffic ticket, mailing your payment and stating if the court cashes it, ticket gets expunged

Do you think that would work? 

If you send money, they will use it to cover your debt, but deletion will not occur. You writing something is not legally binding, dont waste your time on shady tactics. 

Short answer, no it will not work as far as deleting goes. 

If you're incapable of getting PFD on these collections, pay them to stop reporting. 

[simplegirl]

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@Remedios wrote:

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@simplegirl wrote:

Can i send a letter stating if you cash this you agree to delete from all three credit bureaus and the debt is satisfied? I wanted to send it to conns, Verizon Wireless, txu energy, and navy federal. Will they delete it and if they don’t will I be able to send that letter and proof they cashed it to the credit bureaus to get it deleted?

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Imagine getting a traffic ticket, mailing your payment and stating if the court cashes it, ticket gets expunged

Do you think that would work? 

If you send money, they will use it to cover your debt, but deletion will not occur. You writing something is not legally binding, dont waste your time on shady tactics. 

Short answer, no it will not work as far as deleting goes. 

If you're incapable of getting PFD on these collections, pay them to stop reporting. 

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I’m not applying for a big purchase anytime soon not soon meaning not for 6 years so I’m not worried about it being deleted honestly. But they use it to cover the debt in full then that works for me but none of the ones i named are reporting monthly. I’m already taking care of the ones that report monthly and so far all those but 1 will be removed.

[simplegirl]

You can get it expunged with payment so thats a weird reference. Besides I’m more concerned with if I give them a settlement amount will the take it as debt is satisfied.

[Remedios]

To continue with metaphors ....

You might get it expunged with payment under certain conditions, but that would be based on courts decision/policy not a note from you. 

You're free to do whatever you think will work for you 

Good luck. 

[simplegirl]

Well i was just looking for a simple yes or no didn’t know it was going to be taken this way I’ll just do my own thing and not ask questions like this anymore. 

[RobertEG]

That is called a conditional endorsement, and is not a binding contract under most state laws.

If you send, for example, a check, depositing the check is not usually considered creation of a binding legal contract that thereafter requires the depositor to fullfil terms entered onto the check.

You are apt for a legal fight if you attempt to assert that a conditional endorsement creates a binding legal contract.

I would consult a lawyer in your state before attempting to create such a backdooor contract.

[Remedios]

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@simplegirl wrote:

Well i was just looking for a simple yes or no didn’t know it was going to be taken this way I’ll just do my own thing and not ask questions like this anymore. 

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I am really not sure what you mean by this. 

This is your original question 

Can i send a letter stating if you cash this you agree to delete from all three credit bureaus and the debt is satisfied? I wanted to send it to conns, Verizon Wireless, txu energy, and navy federal. Will they delete it and if they don’t will I be able to send that letter and proof they cashed it to the credit bureaus to get it deleted?

Those are three separate questions, and in my response to you,I addressed all three in terms of why that is not going to help you. Had I typed a simple NO, which part of your question would you think it's applicable to? 

Part about sending money? Part about being deleted? Part about notifying CRAs? 

Sorry you did not find my answer satisfactory. Hopefully others will chime in and provide you with further guidance. 

Have a great day 

[FinStar]

I believe that the answers that have been given thus far already address the discussion at hand, inclusive of @RobertEG's comment upthread 

[rbentley]

What you are talking about is a "restrictive endorsement" attempting to create an accord and satisfaction of a debt merely by the  negotiation of a check.  While possible, this is a difficult result to reach because of its potential for abuse.  Almost all States have adopted the Uniform Commerical Code with certain modifcation.  You are looking for Section 3-311 with deals with this subject.

In my State the Code specifically provides:

The negotiation of an instrument marked "paid in full," "payment in full," "full payment of a claim" or words of similar meaning, or the negotiation of an instrument accompanied by a statement containing such words or words of similar meaning, does not establish an accord and satisfaction that binds the payee or prevents the collection of any remaining amount owed upon the underlying obligation unless the payee personally, or by an officer or employee with actual authority to settle claims, agrees in writing to accept the amount stated in the instrument as full payment of the obligation.

Most credit card agreements specifically state that the creditor will not recognize any restrictive endorsements, and that it will treat any restricted check as a regular payment; if your original agreement contains similar terms, it could make enforcing a claim of accord and satisfaction more difficult.

Finally the Code recognizes that such attempts at restrictive endorsements can not be tendered through normal payment channels where they may be stamped endorsed by an accounts payable clerk who does not have authority to settle debts for less than the amount owed.  In such cases the payment must be sent to the designated agent and address for such disputes.  This information would also be included in the very smal print of your credit card agreement.

In short, if you want to get someone to whom you owe money to accept less than the face amount of the debt, you'd better get a signed agreement to that effect. Simply using a memo, restrictive endorsement, or cover letter will not do the trick.