check to creditor

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debranewell2008

Joined: 10 Oct 2009
debranewell2008's page
Posts: 605

89 Magic Points

Subject: check to creditor

Wed Oct 14, 2009 1:19 pm

I wrote a personal check to pay off a mortage .I also included a letter stateing that the cashing of the check meant full and final payment and any attempt to collect on it in the future would be null. So will they be able to collect from me in the future after cashing check?

fireyone

Joined: 26 Feb 2008
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Posts: 4500

8812 Magic Points

Wed Oct 14, 2009 11:41 pm

Hi Debra, I am not real sure on this one but if you sent this by registered mail then it should stand up. If not then it would only be your word against theirs and there would be no definate proof that you sent a letter with the check stating what you mentioned. Any time you are dealing with a matter like this it is always in your best interest to do it by certified mail. It may cost a little more but the protection is definatley worth it.

debranewell2008

Joined: 10 Oct 2009
debranewell2008's page
Posts: 605

89 Magic Points

Thu Oct 15, 2009 2:52 am

I sent it over night mail it has a tracking number and he has to sign for it. Is that the same thing? Plus I have a settlement letter from him stating that he accept xxx amount of dollars as pay off. And he would release the second mortgage against my home.

Justin

Justin

Joined: 17 Jul 2006
Justin's page
Posts: 1298

28935 Magic Points

Thu Oct 15, 2009 7:24 am

Hi Debra,

Firey is right. In financial matters it is always better to have written documents which may stand as proofs when required. If you have the acceptance settlement letter, then I don't think they can collect from you in future since it will be paid off already. If they proceed with anything like this, then you can always show the proof of your payment.
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Justin

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