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  1. #1
    Join Date
    Mar 2008
    Posts
    5

    Default Creditor Sent Back Payments Then Said We Defaulted

    My wife bought a new car (Georgia). There was a family death, we overlooked pmts. for 2 months. We paid them, the lender accepted pmts. Two more pmts. were made, then lender returned 4 pmts. and claimed we went over 90 days and defaulted. We did not go over 90 days if that matters. Now they want the full payoff plus legal fees, appx. $18,000. Can they accept pmts. then return them and say we did not pay? We have not cashed the two checks ($1600), can we say they have the money so we are not in default?
    I can save up the $18,000 in 3 months or less, could we stall the repo that long then pay it off?

    thank you,

    drlmg

  2. #2
    Join Date
    Sep 2005
    Location
    Behind a Desk
    Posts
    98,846

    Default Re: Creditor Sent Back Payments Then Said We Defaulted

    It sounds like your loan contract has an acceleration clause in the event of default, and that they're exercising it.

    Dig up your payment records. Your canceled checks will show when the lender received your payments and, based upon that information, you can establish whether or not you exceeded the 90 days.

  3. #3
    Join Date
    Mar 2008
    Posts
    5

    Default Re: Creditor Sent Back Payments Then Said We Defaulted

    Thank you for your reply.
    Now I know why the attorney handling the case made the statement to my wife that he did. When she questioned the matter of the returned pmts. he would not answer and in an almost sympathetic tone said "all I can tell you is they hired me to do this and I am simply doing what they hired me to do".
    Thank you again, we will look up the info. and pmt. record.

    drlmg

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