Post Dated Liability

[tmane333]

Hi All,

I am in the process of settling a couple of collection accounts.

The CA has agreed to update my tradeline status to paid as agreed, but they want the settlement in the form of post dated checks.

This is OK with me if they honor the dates on the checks.

I will mark the checks VOID if cashed before ##/##/####.

But I would also like to outline the terms in the agreement that they will sign, for example:

The Payee will submit three checks in the amounts of $$, $$, $$. The checks will be cashed on Date1, Date2, Date3 respectively. If the Creditor attempts to cash any of said checks before the agreed upon dates they will be held liable, the contract will be voided and the debt we be forgiven.

Something live that, does anyone have a good example of this sort of clause or know where I can find one?

Thanx in advance.

[retmar]

Go to the top of this page and click on the "FDCPA". Section 808(2,3,4) explains the requirements for your situation. Just make sure everything is in writing from them before you send the checks

[tmane333]

Thanx a alot.

The section that you pointed out was what I needed.

Thanx again.

[retmar]

You're welcome! Good luck!

[Swede]

<blockquote>Originally posted by tmane333

I am in the process of settling a couple of collection accounts. The CA has agreed to update my tradeline status to paid as agreed, but they want the settlement in the form of post dated checks.

</blockquote>

A collection, whether paid or not, is still derogatory and a score killer. I would not negotiate for anything less than complete deletion.