Legal Question in Credit and Debt Law in Florida

Company trying to renege on a 12 month interest free account

If, in agreement with a Manager of CitiFinancial I send them a payment to settle an account, does the law allow a ''note'' to be added to the check (Paid in Full'' or ''Account Satisfied'') to stand a legal test of their acceptance if cashed? Thank you for your review and response, in advance


Asked on 4/08/08, 6:48 pm

1 Answer from Attorneys
Matthew Z. Martell Law Office of Matthew Z. Martell, P.A.

Re: Company trying to renege on a 12 month interest free account

Only if it is accompanied by a letter which clearly states the following: 1. there is a disputed debt between yourself and the creditor; 2. the enclosed check represents full and final payment and settlement of all claims and disputes regarding this debt; 3. by endorsing and depositing this check, they agree to these terms and conditions; and 4). if these terms and conditions are not acceptable, then they should return the check to you. The legal term for this is "accord and satisfaction". If you don't send the letter stating what I told you to say, Florida case law says it is not an accord and satisfaction. Writing "Full and Final Payment" in the check memo doesn't quite cut it. I recommend hiring an attorney to write your accord and satisfaction letter on your behalf.

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Answered on 4/08/08, 7:28 pm


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