 construction bond collection
What is the name of your state? OR
Forgive me if this get long winded....
My husband was a contractor up until this last march. Before that he had a claim filed against him. The bond company paid it, and demanded payment (about $9,000) within 10 days. My husband called and told them he did not have 9 grand just laying around. He would have to make payments. First, they said they could not take payments because they were not set up to do that. Then when my husband was more persistant, they finally agreed on payments. They said they could take no less than $1,000 a month, and said they would send out a promissery note for him to sign. (It's been FOUR months, and we still have not gotten that!) We made one payment of $1,000, but the next month did not have it. About two months after the first payment we sent in $385 (via money order). It was all we could scrape up. WELL...my husband's mom had co-signed when we first set up the bond so they have been calling her, etc...She said that they told her they were not going to post the $385 to our account because it was an unacceptable amount. The bond co. was going to refuse that payment and send us to collections. First, can they do this? Don't they have to accept any amount of payment and post it to our account? Finally, my husband told him that he had better post it to our account, otherwise it would be lost money, because we could not cash it since it was made out to them. So, they say they are going to post it, but they want to do a charge off. Can they do this even if we are making some sort of payment every month?? It really feels like the guy is bullying us around, and his story is never the same everytime my husband talks to him.
Thank you for any advise! | 
08-04-2005, 12:12 PM
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