Legal Question in Banking Law in New York

How should I endorse a check to say I am not in agreement that this is payment in full for the loan? I have a Promissory Note for the loan with 1% interest to pay off the mortgage for my son and daughter-in-law when they lost their jobs. This was 5 years ago. A divorce has happened and the house got sold. Payment has been received without the interest. Is there a way I can endorse the check to say I do not agree this is payment in full, should I decide to pursue this at a later date.


Asked on 12/29/17, 4:57 pm

2 Answers from Attorneys

Richard Bryan Richard Bryan Attorney PC

Was the check sent to you marked "payment in full" or other such notation? Did you record the note in the County Clerk's office? I think the bottom line here is going to be that you got the short end of the stick. Be grateful you got your money back at all.

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Answered on 12/30/17, 12:05 pm


Roman Fichman Esq. Law Practice of Roman Fichman Esq.

I somewhat disagree with my colleague. Here are some things you can do:

1) strike out any notations of payment in full etc.

2) note "balance remaining' (near memo line) and back of check

3) note "under protest" front (near memo line) and back of check

4) send a written notice to the payor about the remaining balance and even better I highly recommend that you consider an attorney's letter to the payor that will note the balance due and other relevant information that will make collection easier.

Such an attorney's letter is not expensive and is a good way to preserve your rights. Contact me directly

Roman R. Fichman, Esq.

www.TheLegalists.com │ @TheLegalist

email: Info (@) TheLegalists (dot) com

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Answered on 12/31/17, 12:42 pm

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