i took a partial payment on my truck (100.00) they refused it....after they said that icould bring in 100.00 to them and then get caught up payday which is today....now that they refused it does that end the debt? because i have heard that if they refuse you it you dont have to pay that debt...because of refusal of payment...
2007-11-30 06:52:32 · 4 answers · asked by texasswtness38 1 in Business & Finance ➔ Personal Finance
You heard incorrectly. Your debt will only go away when you pay it off according to the agreement you signed.
2007-11-30 06:56:47 · answer #1 · answered by acermill 7 · 1⤊ 0⤋
If you keep thinking along those lines you will be without a truck since they will repossess it. Some unscrupulous dealers like to repossess vehicles because you've paid quite a bit on it but then they get to sell it all over again.
Sell something and get your payment in. then, look to refinance with a place that will give you longer terms and a lower payment. You may pay more in the long run but it comes down to what can you afford each month.
2007-11-30 15:01:37 · answer #2 · answered by Huba 6 · 0⤊ 0⤋
You have a contract to pay full payments on your loan. If the lender refuses to accept anything other than the contracted amount, that is its option.
2007-11-30 15:08:40 · answer #3 · answered by Anonymous · 0⤊ 0⤋
NO. Good one.
YOu have a payment to make. They are in their rights not to take anything less then the full payment. It's dumb, but their right.
If you make a part payment and they accept it, this still doesn't mean that they can't go after you.
Read your contract.
2007-11-30 14:59:25 · answer #4 · answered by Anonymous · 1⤊ 0⤋