Re: Won't accept partial payments?

Posted by Bill H on February 17, 2003 at 16:59:25:

In Reply to: Won't accept partial payments? posted by julie on February 17, 2003 at 15:06:59:

: We are currently 3 months behind on our payment, plus some late fees because of it. I tried to pay via the phone last week for 2 payments, but they won't accept a partial payment. Doesn't this just hurt in the long run, as of next month I'll be even farthur behind. Why will they not accept a partial payment?

Julie:
Over the phone you are just another voice to a frustrated collection clerk. If possible go to the lender in person and talk with the manager and see if something can be worked out. If not possible send them a return receipt letter with the payments inside.

If you want to get out of the mess, make some extra meaningful effort on your behalf.

The lender is under no obligation to accept partial payments. Your contract with them calls for full payments on time and apparently your lender is going to hold you to it.

Bill H

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Comments:
: : We are currently 3 months behind on our payment, plus some late fees because of it.  I tried to pay via the phone last week for 2 payments, but they won't accept a partial payment.  Doesn't this just hurt in the long run, as of next month I'll be even farthur behind.  Why will they not accept a partial payment?

: Julie:
:   Over the phone you are just another voice to a frustrated collection clerk. If possible go to the lender in person and talk with the manager and see if something can be worked out. If not possible send them a return receipt letter with the payments inside.
:   
:   If you want to get out of the mess, make some extra meaningful effort on your behalf. 

:   The lender is under no obligation to accept partial payments.  Your contract with them calls for full payments on time and apparently your lender is going to hold you to it.

:   Bill H


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