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    Myers3D's Avatar
    Myers3D Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Jul 3, 2008, 07:55 AM
    Can partial payment be refused by financial co.
    I am leasing a vehicle and I have been late on payments. I am 1 1/2 months behind. I offerd to catch up the 1/2 month with a $200 payment then in 2 weeks make a full $400 payment to catch up till payment is due this month. The creditor refused and said they needed the $600+ toaday.
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
    Computer Expert and Renaissance Man
    		  
    #2

    Jul 3, 2008, 07:56 AM
    Yes they can refuse. They are not required to accept anything but full payment.
    JudyKayTee's Avatar
    JudyKayTee Posts: 46,503, Reputation: 4600
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    #3

    Jul 3, 2008, 10:37 AM
    Quote Originally Posted by Myers3D
    I am leasing a vehicle and I have been late on payments. I am 1 1/2 months behind. I offerd to catch up the 1/2 month with a $200 payment then in 2 weeks make a full $400 payment to catch up till payment is due this month. The creditor refused and said they needed the $600+ toaday.
    [Comments on this post Myers3D agrees: Well, I guess that's life. I just don't understand how they can refuse a payment on a debt. If I were owed money I would accept whatever was offered knowing I would be getting something]

    They don't want to extend the Statute or, in this case, void the terms of the contract which says X dollars on such and such a date; the bookkeeping would be a nightmare for them.
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