 Settlement Offer - To Accept or Not to Accept
My wife has two Collection Accounts on her CR. We are in the middle of trying to finalize a mortgage laon and these need to be removed. We nogatiated a settlement with Allied Interstate (CA) and receieved a Settlement Offer in writing. We sent the payment as required under the settlement agreement. We stamped the back of the check with:
CASHING OF THIS CHECK REPRESENTS PAYMENT IN FULL TO WHOM THE CHECK WAS ISSUED. CREDITOR AND/OR ITS ASSIGNEE, AGENCY, COURT, LAWFIRM AGREE TO REMOVE ANY AND ALL DEROGATORY INFORMATION PREVIOUSLY REPORTED AGAINST SAID ACCOUNT BY SAID FIRM AND BY SAID FIRMS ORIGINAL CLIENT AND CREDITOR WITHIN 10 DAYS FROM THE DATE OF TENDER. TENDERING OF THIS INSTRUMENT SHALL INDICATE ACCEPTANCE OF THESE AMENDED TERMS OF THE AGREEMENT BETWEEN THE PARTIES.
Allied Interstate returned the check to us stating that they DO NOT accept payments with "limited endorsements" attached.
What is the best way to proceed? Is a Settlement in Full sufficient to get this collection account closed and settled?
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