Re: Example of a $1 contract
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Posted by computerguy
(204.180.131.3) on January 20, 2004 at 14:31:37:
In Reply to: Re: Example of a $1 contract posted by LadynRed on January 20, 2004 at 13:12:22:
Because they are not out any money and I can almost guarantee they will cash the Postal Money Order. It doesn't have to be a dollar it could be any amount you choose that you feel comfortable with. What you don't want to do is, miss a payment and never be late because then you have dishonored the contract you had established. You can even pay ahead in advance by doing a statement paying a $1 for the next month with the dollar deducted from the total and a dollar on the following month with the $1 subtracted from the previous months total etc. Just make sure it is spelled out on your presentment and is shown on your presentment like the examples that I posted. I know people are doing this and have done this and they have even had settlement utilizing this honor method. Collection Agencies would be the easiest to work with on this method. Their money hungry and by accepting your presentment you can even bail out on the interest because they accepted your contract at the value they set in their initial presentment to you.
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