Quote:
Originally Posted by elyuma  What is the name of your state? Orlando, FL
I bought a car from a local dealer and trade in my old car and they should pay off my old car. Is being like a month already and the financial institution call me saying that they not receive the payment for that car loan and they will send me to collection. I called the dealer and they say that they send the check like a week ago but there are not receive the check. What should I do about this? 
Thank you |
You're post is a little unclear. However, I will begin by saying this. You are responsible for the payment of every loan you receive from a bank or finance company, whether a personal loan or a finance arrangement to purchase a car. This was a loan you received based on you're personal credit and unless you were required to have a co-signer, you are the only person the loan company or their hired collection agency will be enforcing collection efforts against. The finance company is not interested in whatever creative arrangements you have made with another party, regardless of whether they have possession of the vehicle or not. If you don't make the monthly payment as per the terms stated in you're loan agreement, you will suffer the consequences. The negative credit reporting, the interest, the penalties the court appearances, the judgments the liens and the seizure of bank accounts and property.
So, you're first course of action should be to bring you're payments in to this agency so you're all current and in good standings with them. When you do this, don't bother them with any explanations of what arrangements you have made with a third party as it has no bearing on you're obligations to them and they have no interest in you're personal arrangements with anyone else, regardless of whether you've been promised orally or in writing, that this third party was going to pay off you're loan.
After you have gotten everything up to date with you're finance company, then you should go back to this dealer who you claim has agreed to pay off you're loan and request a check from them, for the payoff amount they agreed to take care of, so you can deliver it to the finance company yourself to ensure it is credited properly. If they claim they mailed it, then request all the information that would support this claim, such as the check number, the amount, the date it was issued, who it was issued to, where it was mailed from and the date it was mailed as well as what address they sent it to including who's attention and/or the department it was supposed to arrive at.
Then inquire as to what the procedure is for placing a stop payment on the item and having a new check issued.
If they can not provide you with this information within a day or two, then you have to decide if it is worth hiring a lawyer to deal with this situation or if you want to continue to try and resolve the situation yourself.
If you want to try to resolve the issue yourself, start by reviewing the information at the following site:
[url]http://www.oppaga.state.fl.us/profiles/6060/print.asp[/url]
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