ICHen
New Member
- Jurisdiction
- California
We have an auto loan since 2011. Our contract states that before the last scheduled payment is due, we were to receive notification of any changes in what we owe. Last scheduled payment was due on 07/14/2017.
According to the contract,
"How Late Payments or Early Payments change what you must pay:
...Changes may take the form of a larger or smaller final payment or, at our option, more or fewer payments of the same amount as your scheduled payment with a smaller final payment. We will send you a notice telling you about these changes before the final scheduled payment is due."
Our auto loan contract matured on 06/30/2017, with the final scheduled payment due on 07/14/2017. The only notification we received was a monthly statement with an extra payment in the amount of $475.60 in addition to the last scheduled payment. Not knowing where they came up with this amount, we wrote their offices for clarification but have been all but ignored.
E-mails and calls came pouring in, sometimes they called twice daily. I responded to one e-mail on 09/14/2017, telling them that we were disputing and requesting clarification for the $475.60 and to please not call until this is resolved. On 09/20/2017 I received an e-mail in return telling me that there was still a balance not for $475.60 but for a whopping $3,700 still due that's accruing interest! What??
Is this even legal? It appears there's a breach of contract on their part.
My question is, are we only obligated, according to our contract, to pay the amount they 'notified' us of before the last scheduled payment is due for them to release the lien, which is $475.60?
According to the contract,
"How Late Payments or Early Payments change what you must pay:
...Changes may take the form of a larger or smaller final payment or, at our option, more or fewer payments of the same amount as your scheduled payment with a smaller final payment. We will send you a notice telling you about these changes before the final scheduled payment is due."
Our auto loan contract matured on 06/30/2017, with the final scheduled payment due on 07/14/2017. The only notification we received was a monthly statement with an extra payment in the amount of $475.60 in addition to the last scheduled payment. Not knowing where they came up with this amount, we wrote their offices for clarification but have been all but ignored.
E-mails and calls came pouring in, sometimes they called twice daily. I responded to one e-mail on 09/14/2017, telling them that we were disputing and requesting clarification for the $475.60 and to please not call until this is resolved. On 09/20/2017 I received an e-mail in return telling me that there was still a balance not for $475.60 but for a whopping $3,700 still due that's accruing interest! What??
Is this even legal? It appears there's a breach of contract on their part.
My question is, are we only obligated, according to our contract, to pay the amount they 'notified' us of before the last scheduled payment is due for them to release the lien, which is $475.60?