Legal Question in Credit and Debt Law in Pennsylvania

Restrictive Endorsement Check/Accord Satisfaction

Hi,

I would like to settle a dispute (I already disputed it with the credit bureaus and it came back as verified as true) with three debtors (one is a original creditor (past SOL to collect debt) and the two others are collection agencies (one is not past SOL to collect the debt and the other is)...what process would I follow? Can I even use the Restrutive Endorsement Check method to erase this debt (meaning if you cash this check you have to delete this listing from my reports)? If I send a check for a lesser amount than the debt, will the SOL start over and can they come after me for the additional amount? Thanks


Asked on 6/03/08, 10:59 am

1 Answer from Attorneys
John Gibson John W. Gibson, Esquire

Re: Restrictive Endorsement Check/Accord Satisfaction

The "restrictive endorsement" tactic doesn't generally fly with the courts. Your best bet is to negotiate directly with the creditors. Right now they are very willing to talk. If it is a lot of money, though, you should probably have an attorney do the talking for you.

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Answered on 6/03/08, 3:23 pm


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