The Motley Fool Discussion Boards

Previous Page

Personal Finances / Credit Cards and Consumer Debt

URL:  https://boards.fool.com/however-after-mailing-the-check-i-read-online-30232834.aspx

Subject:  Re: Debt Settlement - Danger? Date:  8/29/2012  7:15 PM
Author:  vkg Number:  305835 of 312949

However, after mailing the check, I read online that it’s best not to send a check from one’s personal checking account for debt settlement because the credit card company, or the collection agency can sue or raid your checking account, once they have the number of your checking account.

It is best not to give your checking account information to collection agencies.

Do you have other accounts that are delinquent?

Did you required acknowledgement of delivery to prove that the check was delivered on time?

The greater risk is that they will claim that the check wasn't delivered on time, voiding the agreement, but cashing the check anyway.
Copyright 1996-2020 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us