Legal Question in Credit and Debt Law in Texas

''Final Payment'' Checks

I saw a program on television and a statement was made regarding putting the words ''Final Payment'' in the body of a check. The information given was that if you put that phrase (Final Payment) in the body of the check and that check is cashed, you are no longer required to make payments regarding that particular debt because they accepted this money under those terms. Is this true?


Asked on 1/22/03, 4:28 pm

1 Answer from Attorneys
Peter Bradie Bradie, Bradie & Bradie

Re: ''Final Payment'' Checks

No, it isn't, unless (a) it IS the final payment, or (b) the debt is a disputed amount and the check is tendered in an agreed full and final settlement.

Read more
Answered on 1/22/03, 5:04 pm


Related Questions & Answers

More Credit, Debt and Collections Law questions and answers in Texas