Cana debt collector refuse payments?
Get Legal Help Today
Compare Quotes From Top Companies and Save
Secured with SHA-256 Encryption
Cana debt collector refuse payments?
I am currently serving in the military and I am stationed in SC but I am a NC resident. I had a car repossessed and I am trying to pay off the debt. They sold the car at an auction and I was told I had to pay the balance which is fine. On several occasions I tried to make a payment which is less than what they want and they refuse to take a payment. Is it true that I can get the debt cancelled because they refused to accept a payment?
Asked on July 12, 2011 under Bankruptcy Law, South Carolina
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
No, you cannot get the debt cancelled if they refuse to accept the payment. If you owe a debt and its been in arrears, or past due--that is, you didn't pay it when you were supposed to under the original financing or loan agreement--the creditor has the right to demand payment in full. The creditor does not have to accept partial payment or payment over the time, and the debtor has no right to make them accept partial or scheduled payments. If the creditor does accept the money, it has to apply the money correctly to the debt; but the creditor is not obligated to accept anything less than all the money due to it, immediately; or if it will accept less than that, the creditor can determine what it will accept, on what schedule. Most creditors will work with a debtor; however, they don't have to.
IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.