QUESTION
Can a loan company refuse a payment
Asked on Oct 07th, 2021 on Debtor and Creditor - Pennsylvania
More details to this question:
My auto got repossessed and I have offered to pay the loan company $2,000 on a $3,300 dollar repossession and they refused my payment. Is it legal for them to not accept that amount when it was offered to them?
1 ANSWER
Bankruptcy Attorney serving Collegeville, PA
at
Nahrgang & Associates, P.C.
Update Your Profile
There is no right to cure a car loan default in PA. However, before the car may be sold, you will have the option of redemption which is paying the entire balance, plus costs, to recover the vehicle.
If you file a Chapter 13 bankruptcy, that will prevent the creditor from selling pending the case in which you will be allowed to repay the entire balance over 5 years.
I hope this answers your questions, but feel free to call or email me on a free initial basis.
Best Regards,
Matthew R. Nahrgang, Esquire
35 Evansburg Road, Ste 400
Collegeville, PA 19426
(610) 489-3041 o
(610) 489-3042 fax
nahrganglaw.com
Answered on Oct 08th, 2021 at 8:49 AM