If the creditor refuses a payment, is the debt considered paid in full? 3 Answers as of November 09, 2011I have found myself in financial stress and was talking to a debtor and said I could make a partial payment. They told me they would not accept any payments unless it was for the exact amount of the agreed upon payment. If they refuse a payment, is that debt considered paid in full?
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The short answer is no. However, there are certain measures that they should do if they actually accept and cash your check. They could certainly state on the payment made that it is done under contest and that it is only partial payment.
Answer Applies to: Massachusetts