Jump to content

I think I may have lucked out...

Recommended Posts

The background...

I had a joint bank account with my mother, so that when she was ill, and I moved in with her, I could handle everything for her. After she passed away, I sorta fell apart, and that is where 90% of my credit issues came into being. Most have fallen off the SOL, or will soon, and I am doing things the right way now.

One BIG mistake I made was that since I just kept the same bank account after she died, her pension checks kept coming in. By the time I realized it, I was in deep doo-doo. And I was also in deep depression, so I stayed in denial. I was afraid to contact them, fearing they would demand it all back now, charge me with fraud, or something equally frightening. When I finally talked to them, they were actually very nice about it. We did not talk about specific amounts, but I made it clear that I intended to give back what was never meant to be mine.

I procrastinated yet again, because I had a major expense which ended up costing me several thousand dollars, which I WAS going to use to pay them off (new roof). They called me last week. I explained that I was afraid to respond to them because I was trying to get all my ducks in a row so I would be ready to show them my plan. She said, "What kind of monthly payments can you make." I said $150. that was fine.


She sent me a document to sign, outlining what we had talked about, what my payments would be, when it would be paid off, the total, etc... I am to sign it and send it back in with my first payment.... THEIR TOTAL IS ABOUT 1/3 OF WHAT I ACTUALLY OWE! And I did NOT attempt to negotiate, because they are not a *creditor.* The money was NEVER meant to be mine, so I didn't think I had a leg to stand on. This is a difference of about 7 GRAND!

Sooooo.... my question.... if anyone has any input.... if I sign this paper and they cash my check, does that mean that they are bound by the agreement they made with me, even if they (at a later date) figure out their error?

Thanks for any input...

Link to comment
Share on other sites

make sure you write "partial payment for the total amount $**** agreed on to settle all over payment on acct" in the memo area on each check and save them for later. I would do this at least....also write something like that on the paper you sign and retuirn to them and keep a copy.

Link to comment
Share on other sites

I wouldn't write that on the check. Restricitve endorsements don't work.

Remember that the elements of a contract are complete:

They made an offer, you agreed

You pay the agreed amount, they accept it.

It is binding. Just make sure that the agreement states that the amount will be considered paid in full once payment is received.

Link to comment
Share on other sites

This topic is now closed to further replies.

  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.. For more information, please see our Privacy Policy and Terms of Use.