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RE offer


mkr_00
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I sent 3 restrictive endorsement notification letters to my last three collection accounts. It contains the line "Unless you notify in writing within 15 days. I will send a restrictive endorsement check in the amount of ???? for settlement in accord and satisfaction under article UCC § 3.311."

I recieved a letter saying that the appropriate verification of debt has been forwarded to me, that the despute had been verified, and that "CDI does not bargain or barter for payment of a debt". Does this nullify the RE offer or do they have to decline the offer specifically? Should I send the RE check or give up? I am not sure what what they would have to respond with in the 15 day period to nullify the offer. Any info would be appreciated.

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I sent 3 restrictive endorsement notification letters to my last three collection accounts. It contains the line "Unless you notify in writing within 15 days. I will send a restrictive endorsement check in the amount of ???? for settlement in accord and satisfaction under article UCC § 3.311."

There's only one BIG problem with that - unless you're in CA or one of the VERY few other states that uphold restrictive endorsements, you wasted your time, they are not bound by it. Even in CA where RE's are upheld, you MUST follow a very specific procedure in order for them to be valid.

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If you're that curious,

why not just pay the $75 and find out for sure 100%, instead of taking

someones word for it, get the facts for yourself and only this way

will you be secure in whatever decision you make.

The way I looked at it was.... $75 to possibly get it deleted? That's worth it,

so I hired her and now I know 100% that I can use a RE check in Hawaii

as long as I give notice.

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But if you are wrong, not only did you waste the money, but you still have the black mark, which is now going to be MUCH harder to get rid of, because paying can be considered an admission of liability. To make it even worse, paying any amount resets the SOL in many states, making you more likely to be sued for the balance.

Don't take anyone's word for anything concerning your legal future. We here at CIC are only pointing you in the right direction- not attempting to give instructions.

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