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  1. #1
    Join Date
    May 2017
    Posts
    1

    Default Can a Creditor Refuse Partial Payments on a Debt

    My question involves collection proceedings in the State of:colorado

    I have a snap on credit account and they made an unotherized transaction without my consent. My min payment is 47$ a week. I have been making 50$ a week for about a yr. Due to financial constraints i can't afford the 50 a week. So I tried to deal with them and make a 25$ a week payment for a few months till my wife got a job. They denied my payment plan and now are threatening to repossess my tools. Can they really deny my payment?

  2. #2
    Join Date
    Mar 2013
    Posts
    17,041

    Default Re: Snap on

    Quote Quoting Smerfy88
    View Post
    Can they really deny my payment?
    Yes.

    Read your contract.

    Your payment is $50 per week.

    Paying less is default and subjects your tools to repossession.

  3. #3
    Join Date
    Nov 2015
    Location
    47.606 N 122.332 W in body, still at 90 S in my mind.
    Posts
    1,389

    Default Re: Snap on

    Snap On is the biggest racket, isn't it? I have tools coming out of my ears but I woulsd never spend the usurious amounts that Snap On costs. I mean $5000-$10,000 for a tool chest (no tools)?! Get out!

    More to the point, OP, you're on the hook for the monthly minimum and there is no reason for then to deal with you on this. Either pay up or prepare to have your Ferrari of a tool chest repossessed.
    "Where do those stairs go?"
    "They go up!"

  4. #4
    Join Date
    Sep 2005
    Location
    Behind a Desk
    Posts
    98,846

    Default Re: Can a Creditor Refuse Partial Payments on a Debt

    If you send less money than you owe under your contract, then they could potentially both cash your check for partial payment and proceed with repossession.

    You said "they made an unotherized transaction without my consent", but you shared no further information about that claim. If you want comments on that issue, you will need to state what happened.

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