I have a client (now he’s my BANKRUPTCY client, since this happened) in a suit on a credit card with BOA. Prior to suit being filed, my client sent a check for about 20% of the balance containing a notation that read “[acct number], acct now settled.
cannot collect if cashed” along with a letter clearly stating the letter was an offer of settlement.     BOA negotiated the check then sued my client. I filed a defense of res judicata alleging transaction
(settlement) seeking to have the case dismissed. BOAs response: The card member agreement allows BOA to negotiate checks
with restrictive notations without prejudice to their rights to collect the remaining balance.

Related posts:

1. Debt settlement companies and credit repair schemes
2. Cosigner is on the credit card
3. statute of limitations on credit card debt
4. Bank balance when filing chapter 7
5. Suing because no bankruptcy stay