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payment refusal





Sub: payment refusal
Thu, 18/11/2010 05:44

If a creditor refuses to accept payment on a loan what rights do I have, and what federal statute covers me?



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OhioGal1
OhioGal1


Debt Samaritan
Posts: 5216
Credits: 76151.346477606

Sub: #1 Could you please cite the statute where this is stated? I don'tThu, 11/18/2010 - 05:44



Could you please cite the statute where this is stated? I don't believe this is true.

How to Deal with Unlicensed/Illegal Payday Lenders - Step by Step Instructions

I am not an attorney. I am not offering legal advice. The information and ideas I share are my opinion only and do not necessarily reflect the opinion(s) of the owners of this website.


Unregistered

Sub: #2 not in the state of missouri if u are behind 10 payments and offThu, 11/18/2010 - 04:45



not in the state of missouri if u are behind 10 payments and offer a payment of 1 dollar and its refused contract void


SOAPLADY
SOAPLADY


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Sub: #3 You can still be sued while making "good faith" payments.Sat, 06/26/2010 - 12:40



You can still be sued while making "good faith" payments.

How to Deal with Illegal Loans..OhioGal's Primer
http://www.debtconsolidationcare.com...allenders.html
PDL's are ILLEGAL in the following states...
AR, AZ, CT, GA, ME, MD, MA, NJ, NY, NC, PA, VT AND DC
OH AND NH have very restrictive low cost interest rate laws.

SOL for all states
http://www.debtconsolidationcare.com...imitation.html


Unregistered

Sub: #4 I had a debt collector call me to collect a debt and when I toldSat, 06/26/2010 - 12:25



I had a debt collector call me to collect a debt and when I told them how much I could pay the debt collector told me that it wasn't enough and that payment would not be accepted. I do not have a signed contract over this bill, and was trying to make payments and they refused my payment


Unregistered

Sub: #5 check your state laws in my state making a payment even if behinThu, 03/04/2010 - 06:20



check your state laws in my state making a payment even if behind still stand in "good faith" you made a effort to pay, if you sent a check and they sent it back that is evidence in court. I know my home lender is trying the same stuff but if you let the internet do the work for you, you will find very interesting info.


info4444
info4444
Posts: 2
Credits: 45

Sub: #6 They can refuse payment in certain circumstances. If you are beThu, 06/25/2009 - 09:19



They can refuse payment in certain circumstances. If you are behind more than the two payments you were offering, they can refuse because you are not bringing it up-to-date - if the loan is already considered 'defaulted' they can hold out for full payment of the balance. Did they give you any idea what they were looking for??

Our Story Texas foreclosures


DebtCruncher
DebtCruncher

Posts: 2266
Credits: 26972.880293007

Sub: #7 Were you behind on the payments? Do you still have the car? YoWed, 06/24/2009 - 15:57



Were you behind on the payments? Do you still have the car? You have an executory contract, and unless you have actually defaulted on the contract, then they can't just "stop doing business with you" -- in that case, they are in breech of contract.


desperatelyseekingsanity
desperatelyseekingsanity

Posts: 1116
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Sub: #8 Who is the lender?Wed, 06/24/2009 - 07:04



Who is the lender?


Unregistered

Sub: #9 I was told via the phone by my lienholder that it was a corporatWed, 06/24/2009 - 06:59



I was told via the phone by my lienholder that it was a corporate decision and they do not want to do business with me and refuse my two months of payment for my car. This happened yesterday 06232009


DebtCruncher
DebtCruncher

Posts: 2266
Credits: 26972.880293007

Sub: #10 That is a material breech of the contract and is considered prevThu, 06/28/2007 - 19:24



That is a material breech of the contract and is considered prevention of performance ... they are preventing you from fulfilling your duties.

Below are some quotes from a law book I have. Unfortunately, I don't have exact references to the actual laws regarding contracts:


The Uniform Commercial Code (UCC 3-603) further states that ???????If tender of payment of an obligation to pay an instrument is made to a person entitled to enforce the instrument and the tender is refused, there is discharge, to the extent of the amount of the tender ??????? with respect to the obligation to which the tender relates.???????

If the creditor filed suit against you, then you could easily assert a positive defense on grounds that 1) the presentment of your payment to the creditor is a tender to perform obligations under the contract; 2) refusal of tender by the creditor is a repudiation that excuses further performance of debtor on the contract; and 3) preventing the obligor from tendering payment constitutes a material breech that discharges the obligor from the contract.


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