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  1. #1
    Join Date
    Jan 2008
    Posts
    2

    Default Auto Lender Now Says No Grace Period

    I am paying 25% interest on $5,000 loan, 350 per month for a 96 car in illinois
    I have bad credit so it was supposed to be a car would be in for "1 year"
    to prove credit worthyiness.

    Heres the problem:

    I go to the dealership 1 1/2 year later to get another car.

    They pull my credit report and it saids that I paid late every month which is completely untrue.
    The contract I signed said I had a 10 daY GRACE PERIOD.
    I called the finance company they said that they dont offer grace period.
    My contract says otherwise..Couldnt I have been told that...Now I cant refinance. I feel like Ive been got.
    Ps the car is breaking down often now costing me repairs..
    What can I do ?
    Should I get a lawyer? Or Is there an easier way? Any referals would help..
    Thanks for your time...

  2. #2
    Join Date
    Jan 2008
    Location
    Toledo, OH
    Posts
    16,307

    Default Re: Please Help What Should I Do.

    Should I get a lawyer?
    Maybe.

    Pull out all of the paperwork associated with that car. Find the contract where it says you have a 10 day grace period. Who did you sign it with? Is the agreement with the dealer or with the finance company?

    If you've got that, go see an attorney. Someone was not playing fair.

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