deepindebtnow Posted December 9, 2009 Report Share Posted December 9, 2009 I saw this statement from the following page:http://www.creditinfocenter.com/debt/CanCreditorSue4SettlementDifferences.shtml"California lets creditors cross out the full payment language and sue you for the balance."Can someone help clearify it? I get the impression that this means to send in a check with "settled in full" written on it. Creditor can just cross out. I am just wondering if the same applies with the OC or CA sent a letter that states settled or settled in full. once we received such letter in writing, then pay. Can they still come back and sue for balance?thanks for help. Link to comment Share on other sites More sharing options...
Recovering Attorney Posted December 9, 2009 Report Share Posted December 9, 2009 It's a UCC thing and most states I am familiar with do not let parties unilaterally make such changes. IN other words, if you think you can trip up a creditor by adding qualifiying language to a check or money order, be careful. And get an opinion from a lawyer, not the internet oracle Link to comment Share on other sites More sharing options...
deepindebtnow Posted December 14, 2009 Author Report Share Posted December 14, 2009 Hi, thanks for the reply.I guess my question is, if I have the settlement letter in hand stated as "settled" or "settled in full", Can I still be sue for the balance? Link to comment Share on other sites More sharing options...
DFS Posted December 14, 2009 Report Share Posted December 14, 2009 but I would look at the letter carefully. A friend of mine settled a debt, got a letter, and about a year later a JDB came after him for the difference. Probably different set of circumstance than yours, but never, never trust these guys. It wouldn't surprise me if "settled in full" meant you paid on an amount they gave you an option to pay on (you settled in full on that amount) but then sell the remaining to someone else. But, I don not know any of this for sure, just my thoughts. I quit trusting anything this guys say or "promise" a long time ago. Link to comment Share on other sites More sharing options...
unusualsuspect Posted December 15, 2009 Report Share Posted December 15, 2009 DFS explains what probably happened to you... you settled the debt but failed to spell out what will happen to the remaining balance...Always, alway always specify that the debt is settled in full and any remaining balance is not to be sold, transfered or assigned to any other entity. Link to comment Share on other sites More sharing options...
Recommended Posts