Received "Redress payment from NFCU"

[HITR94]

This morning I received a redress payment from NFCU. Excerpt below:

 

"Enclosed is a check for XXXXX. This check reflects the amount you paid on your loan within 60 days of receiving a debt collection letter from Navy Federal that is subject to the settlement.

 

The provisions of this payment does not create a new debt or increase any existing debt that you may otherwise owe Navy Federal. Nor does this payment prevent NF from engaging in lawful collection activities as to any debts that you may owe the credit union. This may include NF exercise of its statutory lien athority or securty interest in member funds to satisfy outsanding debts to the credit union."

 

 

 

The account in question was opened from 2008 to 2012. First reported delinquent in 9/2012 and settled for less than full amount in 3/2013. Shows on my credit report as a charge off and settled for less than full amount.

 

Should I cash this check? SOL has passed on when they could collect (3 years). Or is cashing it re-opening that window?

[ICANHASMUNY?]

yes, go ahead and cash it.