Final payment on back of cheque.

malloandson

Hi to all

I have been told by a close friend of the family who works for a major credit card company, that if someone sends in a cheque for payment on their account but writes on reverse of cheque "this is my final payment" and the cheque is presented and cleared you do not have to pay any more even if you still have a balance.
Can anyone else confirm this.

thanks to all in advance.

clio

Very much doubt it, nearly all cheques go through automated don't they..

battyboimatt

Just an old myth, like the previous post most checks are bulk cleared just do a general search on the matter and you will know all about it, a company has to agree to any final settlement fingures etc and would do so in written form, I mean come on I buy off you new windows for 8 grand, then send youa check for a ten pound, and write on the back, this is my final payment, of course you would cash it and still persue me for money, you never agreed it would be my final payment

ICan'tStandIt

I doubt it as cheques are all dealt with by an automated system these days, which is why people who include letters with their change of address authority or 3 or 4 different cheques tend to come unstuck.

It's worth a try, but I can't see anyone making it work.

thriftymomma

I wouldn't have thought so but let us know how you get on if you try it lol!