Contract Law/Credit Reporting question

[Fozzle]

This applies mostly to California.

To conclude a lawsuit with a tough creditor, we signed a settlement agreement. One paragraph contains the following language: "The parties agreee...to fully and unconditionally release and forever discharge...all released parties from and on any account of any and all claims, demands, actions, causes of actions, obligations damages, losses, costs, liabilities or charges of any nature or kind whatsoever against them, whether know or unknown..." etc etc.

Several paragraphs later, at the end of the paragraph regarding confidentiality: "Nonwithstanding the above, Creditor shall be permitted to disclose to credit reporting agencies that the status of Fozzle's account with Creditor is charged off and/or settled for less than full balance."

So my contention is that because the release is unconditional, the latter wording is contradictory, and the charged off reporting can be challenged. Any thoughts before I contact an atty?

Thanks

[hannah]

This applies mostly to California.

To conclude a lawsuit with a tough creditor, we signed a settlement agreement. One paragraph contains the following language: "The parties agreee...to fully and unconditionally release and forever discharge...all released parties from and on any account of any and all claims, demands, actions, causes of actions, obligations damages, losses, costs, liabilities or charges of any nature or kind whatsoever against them, whether know or unknown..." etc etc.

Several paragraphs later, at the end of the paragraph regarding confidentiality: "Nonwithstanding the above, Creditor shall be permitted to disclose to credit reporting agencies that the status of Fozzle's account with Creditor is charged off and/or settled for less than full balance."

So my contention is that because the release is unconditional, the latter wording is contradictory, and the charged off reporting can be challenged. Any thoughts before I contact an atty?

Thanks

It basically says that they won't come after you for any debt ever again nor you come after them BUT they will report to the CRA's. Have you already signed this?

[Recovering Attorney]

The release has nothing to do with reporting the debt. If you agreed to a Pay for Delete, then this document doe snot make your bargain. My guess: the lawyer cannot predict how or if the client reports this and wants to cover its a$$.

What is more important to you, getting rid of this lawsuit or your credit report?

[Fozzle]

The doc was already signed by both parties to get the lawsuits dismissed (which was more important than the credit reporting) a few months ago. However, as I was reading it in retrospect, the broad wording of "unconditionally" and "any and all" made me wonder.

We'll see. I've eliminated 10 of 11 derogs over my journey, so I can be patient with this final one.