Collections Law/Credit card

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Expert: - 3/18/2011


Question
I sent a payment to my credit card company and in the 'for' line I added "balance paid in full" and they accepted it. Considering that they accepted the check, which from what I understand is really a contract for payment, Do I owe them any money? Can I refuse to pay and site the fact they accepted my paid in full check?
Thank you,
Tony

Answer
Sorry but unless the amount was agreed upon, simply writing paid in full does not make it so. You need to call the credit card company and see if they will settle for an amount less than agreed upon and get the agreement in writing.  Good luck with this.

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Ray A Miller

Expertise

I am qualified to answer questions on the following subjects: FDCPA, FCRA and HIPAA as well as medical collections, general collections and collection agency related issues. I trained these subjects at a nationwide collection agency and customer service call center and audited around 150 representatives for compliance to the laws. I have been in the Collections Industry for over 30 years. I feel that everyone deserves to be treated fairly and with compassion and that is the way I trained collectors. Even though I worked for a Collection Agency, I get great satisfaction in helping those who have been mistreated or in need of help with these confusing issues.

Experience

I was the Compliance Administrator with a nationwide collection agency and customer service call center-I have trained hundreds of collectors on the above referenced topics. I have been in the medical collections industry for over twenty years and research these topics on a daily basis.

Organizations
ACA International

Education/Credentials
Some college ACA Certified Collection Specialist

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