Debt and Bankruptcy
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Posted by Sloane
(63.215.79.22) on February 12, 2003 at 23:41:21:
Has anyone read this book "Debt and Bankruptcy"?. So far it has some good advice but I'm curious about one thing the book state. If you write a check for the amount you think you owe to your creditors and put on the check "P.I.F.-no recourse" along with the letter explaining that you will pay nothing more, the check becomes in legal terms an offer to settle the account. Cashing the check is an acceptance of that offer and since it is a contract, you legally owe nothing more. 1. Is that true?
2. Does it work if anyone actually tried it?
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