retail installment nightmare

[annataz04]

What is the name of your state?Il. hoping to find out if there is any statute in Il. re: canceling a retail installment contract as far as time limit ie: 10 days ,30 days,. I have a contract with an out of state credit corp(TFC, Ca.)
for services from Gatlin Education (TX.) and Waubonsie College(il) . This is quite complicated as to why by the only signed contract is with the credit company and it does not have any cancelation policy written into the contract.

 

[shortbus]

You only have a contract with the credit company because they pay the vendor in full for your purchase. Then you have a loan with the credit company to pay back. There's not likely to be a cancellation policy since the credit company has already spent the money on your behalf.

You may be able to get a refund from the vendors directly, and use it to pay back the credit company, but this only works if they allow accelerated repayment.

 

[annataz04]

Shortbus Thanks ...... BUT

The loan i spoke of was for an internet course thru a college in Illinois that was basically being sub'd out by Gatlin Ed. in tx.. I wanted to withdraw after three weeks (the college even sent me a registration refund) and TFC credit said they would cancel the contract because at the time i requested the cancelation they had not paid gatlin(or Waubonsie) a dime. When gatlin was contacted they refused to drop me from the course because i already accessed the disk and recieved the books. I have since returned the books which they accepted then promptly returned to me but i refused the delivery. I told them i would gladly pay for the books but they say they will have none of it and i must pay.
I never signed any thing with gatlin and the reason for withdrawel was due to non-exsistence of things that seemed to make the course worth while per thier web site . I will take this to court if needed but i hate to see it on my credit report for refusal to pay or default.