Should I accept partial payment on a final payment when I will probably have to go to small claims for the balance due?
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Should I accept partial payment on a final payment when I will probably have to go to small claims for the balance due?
Asked on August 27, 2015 under Business Law, Florida
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 9 years ago | Contributor
Taking partial payment does not give up your right to sue for any unpaid amounts, unless you agreed such as in a written settlement to accept the partial payment as full satisfaction of the debt. Therefore, there is no reason to not take the money--isn't it better to have money than not? You obviously have to credit the partial payment against the balance, reducing the amount owed and therefore, the amount you can sue for, but again, you can still sue for any unpaid amounts--and in the meantime, by accepting the payment, you'll have more money in your pocket
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