christmastrees51 Posted August 30, 2007 Report Share Posted August 30, 2007 Will be settling for cc debt of $13000. (in full - lump sum) Can Restrictive Endorsement be used to remove or fix in anyway my CR? I live in NY state.If so, what needs to be written etc?thank you Link to comment Share on other sites More sharing options...
swirlgirl Posted August 30, 2007 Report Share Posted August 30, 2007 I don't have any personal experience with this, but I found this link: http://www.carreonandassociates.com/articles/4settle.htm . Hope it helps. Link to comment Share on other sites More sharing options...
uwackme Posted August 30, 2007 Report Share Posted August 30, 2007 You need to find out if your state's law recognizes restrictive endorsements.My state of MA does, and there is caselaw on it, provided you pay the correct party.... such as if a CA or lawyer is collecting and directs you to PAY THEM directly, pay the collector not the original creditor. But only a few states allow restrictive endorsements, MA's recognition is a seriously strong one, rare among the states. Link to comment Share on other sites More sharing options...
bigjohnstud4200 Posted August 30, 2007 Report Share Posted August 30, 2007 In most states, RE doesn't fly. Have they validated the debt and do they have enough proof to win in court? If not, you might still have some leverage to PFD. Link to comment Share on other sites More sharing options...
christmastrees51 Posted August 31, 2007 Author Report Share Posted August 31, 2007 They have validated and have enough proof to win in court. They want me to sign a stipulation of settlement - but I want something to make the negatives go away on my CR. Was hoping restrictive endorsement might help with this if accepted in ny state. What does PFD mean? Link to comment Share on other sites More sharing options...
swirlgirl Posted August 31, 2007 Report Share Posted August 31, 2007 PFD=Pay For Delete. The CA would agree that in exchange for payment, they agree to delete the tradeline on your CRs. Link to comment Share on other sites More sharing options...
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