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If a collection agency cashes a check with a contract on the back is it considered a written contract in Colo

I heard that if you send them a check and write on the back (“accepting this check is evidence that the transaction is complete and this charge will deleted from my credit”) Is this considered a written contract in colorado and do they have to stand behind it? Will they delete it from your credit report?

No it is not binding on their part. This has to deal with section 3-311 of the UCC(Uniform Commercial Code). Hopefully you did not do this, because by sending a payment you may have caused yourself more problems.

There is something called the Statute of Limitations. This is the time in which a creditor can take legal action against you to get you to pay the money. Since you said Colorado, the SOL for CO is 3 years for Credit Card(Open Ended Accounts), and 6 for all other types. So if you had not made a payment in that time, they could no longer come after you for payment. Now, once you make a payment it reset the SOL.

The second time is that negative information can only be reported on your credit report for 7 years from the date of the negative item, such as the charge-off. So unless you have paid them off in full you have reset the time for this also.

Colorado Homes for Sale – get a Free Credit Report!

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