Can a creditior arbitrarily change a repayment plan?
Question Details:
I was to settle a credit account for $440 around 07/18/09. The account manager ended up going on maternity leave days after we had decided the amount. Around 08/17/09 I received a letter in the mail saying that the agreement was now $510. I called to complain and they said that there was nothing that they could do. I have already paid the $440 but now they want me to pay the extra $90 by 11/11/09.
Business Law Answers
Unless you have a written confirmation/agreement for the original repayment plan with the account manager, there is really nothing you can do except pay the extra $90. But first get a written confirmation/agreement for the $510 or else the repayment plan may be "changed" again. Unfortunately, this commonly occurs when no written confirmation/agreement exists.
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