"So i began emailing back and forth with the creditor and explained i would send them 160$ by check with the note on the check reading "BY CASHING THIS CHECK YOU AGREE TO FULL AND FINAL SETTLEMENT OF ACCOUNT"
Well, if the creditor sends that offer to you, it's binding. When done the other way around it's just a person making a partial payment on an overdue account. All because the element of "consideration" is integral to any contract.
If this weren't true, anyone making a $100 payment on their $1000 credit card balance could stipulate to the lender, "If you accept this payment, you agree I don't owe you anything further; otherwise, send the $100 back." I don't think so.
Any creditor is going to keep the $100, and then demand the other $900, since you already owe both amounts. Why should a lender gratuitously surrender their rights to the full balance owed without some consideration? However, as a practical matter, rather than have to wait and chase the person down, they may decide to formally surrender their right to part of the balance owing for a speedy partial payment. But the debtor isn't surrendering any property rights in such a situation, only the creditor is.
In this case, one ALWAYS needs a presigned written agreement from the collection agency that such and such a payment is in full and final settlement of the specified account. (Student loans are more complicated.) before sending a single penny. Otherwise, collection agencies will invariably renege and seek the balance with inflated and illegal service charges, legal fees and interest down the road. Collectors are virtually unenforced throughout Canada so they know they can get away with it.
On any given day there are thousands of people who are having a squabble with their cell service provider. It's simply impossible to spend hours conjecturing how to resolve the myriad problems which inevitably develop.
Suffice it to say that any collection agency or their lawyers will try to screw you out of anything and everything they can get if you let them. The word "professional," although Silverthorn applies it to many collection agents, is simply incompatible when applied to the vultures of the financial world. Think about it, "Professional vulture"...... "Professional collection agent." How much sense do those oxymorons make?
Yes, I was referring to Natale. I predict she'll be back in full action by Jan. 13. Too bad it falls on Thursday; it would be far more appropriate if it fell on Friday.