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Calif Restrictive Endorsement


payin4mistakes
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I have sent a letter to CA indicating that I will be sending a check and I want the negative TLs removed - I have second thoughts about if I send the actual check. if the CA would remove and if not, what recourse would I have. Small claims?

Has the CA agreed to do this?

Unless they've agreed to do this and you've executed a contract with them you have no recourse because they aren't obligated to anything.

According to Nascar in a similar situation, he doesn't seem to feel even a contract is helpful (not trying to speak for him...just offering it up for your consideration).

In any case, I would never send a check actually drawn on my account...if you arr going to pay, buy a money order or a cashier's check.

I doubt any sort of restrictive endorsement will help you either.

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I am confused - I thought in my particular state debtors have recourse provided they comply with applicable law. My letter to the CAs is exactly like the letter posted at this post: http://www.debt-consolidation-credit-repair-service.com/forums/showthread.php?t=265693&highlight=restrictive+endorsement

I particularly included the following paragraph:

"So this is notice that I will be sending the full payment check with a Restrictive Endorsement. It will read:

You, (“you” means XXXXX Inc), may use only this check to obtain funds from me, (“me”, “my” means Hiblues), and you are strictly prohibited from using any other system, procedure, or scheme to withdraw funds from my account, and that by cashing this check you agree that you will NOT verify, re-verify re-report or update information regarding any of my accounts to the following credit reporting agencies, Experian, Equifax and Trans Union, for any reason except to delete these trade lines (items) from my credit reports. You agree, that both parties must agree upon any changes made to this agreement by initialing beside the strike-thru, before a strike-thru can be made valid. You agree that you have been given ample notice of this restrictive endorsement. You agree that failure to follow thru with the above provisions will result in a charge to XXXXXXX Inc. equal to the amount of this check."

Are you telling me this is no good????

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I am confused - I thought in my particular state debtors have recourse provided they comply with applicable law. My letter to the CAs is exactly like the letter posted at this post: http://www.debt-consolidation-credit-repair-service.com/forums/showthread.php?t=265693&highlight=restrictive+endorsement

I particularly included the following paragraph:

"So this is notice that I will be sending the full payment check with a Restrictive Endorsement. It will read:

You, (“you” means XXXXX Inc), may use only this check to obtain funds from me, (“me”, “my” means Hiblues), and you are strictly prohibited from using any other system, procedure, or scheme to withdraw funds from my account, and that by cashing this check you agree that you will NOT verify, re-verify re-report or update information regarding any of my accounts to the following credit reporting agencies, Experian, Equifax and Trans Union, for any reason except to delete these trade lines (items) from my credit reports. You agree, that both parties must agree upon any changes made to this agreement by initialing beside the strike-thru, before a strike-thru can be made valid. You agree that you have been given ample notice of this restrictive endorsement. You agree that failure to follow thru with the above provisions will result in a charge to XXXXXXX Inc. equal to the amount of this check."

Are you telling me this is no good????

Let me be clear...I would never send a check actually drawn on my account...EVER.

As to the restrictive endorsement and removing the tradeline, no...I would NEVER trust it as a means to make them remove the tradeline. If you want a CA to remove a tradeline then at a minimum, get them to agree to it IN WRITING.

Even then, you are relying on the "honesty" of a company in an industry, where, as a general practice, those in the indudsrty LIE all day long.

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