Paid Settlement - CA States "Limited Stamp"

[mikedavis]

What is the name of your state?What is the name of your state? Maryland

Credit Card company sent debt to an outside collections while retaining the debt. I obtained the settlement amount from collections then sent payment; the check (from a friend's account) was cashed. Collection agency is now calling stating the payment had a "limited stamp" on it and I better call their office. The check's memo stated "payment in full" and accompanying letter I sent stated payment in full and that I was forwarding settlement for the account.

I also had a second card with the same creditor that was sent to a different collection agency. I used the same wording in the letter and they contacted me several times to provide a hardship statement and to amend the check memo to indicate settlement. I complied and they cashed the check (from a friend's account).

Both checks were payable to the CC company. Since the check has been cashed and I am still being contacted by the first agency, how should I proceed? Please help!

 

[Ladynred]

You have little recourse at all.. Restrictive Endorsements are NOT enforced in MD, they do NOT have to honor it.

I suggest you read up on it here:
http://www.carreonandassociates.com/articles/4settle.htm

Unless you got something IN WRITING from the CA with the particulars of the alleged settlement agreeement, you're out of luck. If you DID have a letter, then you need to stick that under their noses and make them abide by it.