Legal Question in Credit and Debt Law in Florida

Re: Paid in Full

Generally, no. For example, suppose you owe your credit card company $1000.00, and you simply write a check for $50.00, write paid in full on the back, and send it in, expecting the credit card company to merely write off the remaining $950.00.. Do you honestly think you can do that? besides, most of the time you've agreed to certain terms and conditions. Those terms and conditions likely indicate that even if you tried to pull that kind of nonsense, that the creditor reserves the right to ignore your statement and continue with collecting the balance due. In order for you to get away with it, you and the creditor would have had to agree the creditor would accept the lesser amount in full satisfaction of the debt. Usually, simply cashing the check on their part does not constitute an agreement between the two of you.