For SteveX : Here's something from the archives
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Posted by computerguy
(204.180.131.3) on January 29, 2004 at 13:26:10:
If you accept the debt you have standing to set the terms.....to write a new contract.... You do this by accepting the debt as the current balance due for this month and making a payment..... leaving a balance due for next month.... When the creditor accepts payment he has accepted "your " contract to settle the debt..... He may loudly protest but that does not matter.... you have the proof ..... the accepted payment....under the UCC if you accept the benefit of a contract....there is a presumption of a contract..... You then continue to make your payments according to your new interest free contract with the creditor..... If you receive any commercial offers on the old contract.....you conditionally accept them upon the creditor presenting proof that there is not a new contract.......and upon presenting that the
payments on the new contract are not current....
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