In regards to the payment coupon, are we essentially creating a draft/bill of exchange?
In the endorsement, is says "Make payable to whatever bank". Does it have to be a bank or should it be made payable to the Corporation or even to bearer?
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You can replace "whatever bank" with the creditor's name... look at the coupon they sent you, they usually tell you on it who to make the check payable to. That's what should be there... "whatever bank" is just an example. So yes it can be a corporation or whatever entity you are paying.
RE: Discover Card payment coupon address...
I called the company 3 times to verify where to send Irregular or Conditional payments. I got 2 different addresses, and both were different than what it says on the back of my statement.
Back of statement: If you have misplaced your envelope (none was provided) send payment to:
Discover
PO Box 6103
Carol Stream, IL 60197-6103
When I called for Irregular or Conditional Payment, I got this one twice:
Discover Card
PO Box 29013
Phoenix, AZ 85038-9013
And This one once:
Discover Card
PO Box 30943
Salt Lake City, UT 84130-0943
I know confusion is part of their game. Which address do I choose in this shell game of mailing addresses?
I’d try the first address. Make sure to look at the new coupon letter example in the course.
The insurance company told me to make it payable to their insurance company.
Interesting. Can you, or did they expound on as to why make it payable to their insurance company?
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