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Legal Ease
Legal Ease, Lawyer
Category: Canada Law
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Experience:  Lawyer
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I live in calgary alberta, short and sweet i purchased a

Customer Question

I live in calgary alberta , short and sweet i purchased a truck at a dealership and traded in my old truck , they agreed to give me $48,000 and pay off my loan at the bank for about $43,000 . they cut a check to me for the difference $ 5,000 . after the payed the bank the bank sent me a check for about $5,000 , the dealership called me several weeks later saying they over paid the bank by accident and want there money back , they said they will report me to the credit agency and slap a lien on my newer vehicle . do I have to play givsie backsys ? can i offer to pay them $5 dollars a month . also can they even give me a bad credit report over this and slap a lien on a completly different vehicle at will seems a little odd.
Submitted: 3 months ago.
Category: Canada Law
Expert:  Legal Ease replied 3 months ago.

Thanks for your question.

Are you saying you were paid by both the bank and the dealer and you know you were only owed the $5000 but were given $10,000 and you are asking if now you have to pay them back or not?

Customer: replied 3 months ago.
I am . also asking if they can legally put a lien on my new vehicle and report to the credit agency .
Expert:  Legal Ease replied 3 months ago.

The law is very clear and you are undoubtedly required to pay them back. This is not your money and you were paid in error and even when you took the money you knew that.

You would not be permitted to pay them back slowly if this went to court. In fact you would be ordered to pay interest from the day you got the money and cashed the cheque to the time you pay them back in full and would also have to pay their legal costs.

They can add this to the lien because you owe this them the money.

If they send this to a collection agency then the agency will file a report and this will most assuredly damage your credit rating.

The best thing to do, clearly, is pay them back and put this behind you. You will ultimately hurt yourself if you don't.

I know this is not what you wanted to hear but of course you want the right answer.

Please feel free to post back with any follow-up questions you may have. If you don't have any then I hope I have earned a 5 star rating but if you don't feel that I have please don't hesitate to reply back and let me know what more I can do to assist you. Finally, please know that even after you rate me I will be here for you and you can ask follow-up questions if you think of them later on at no further charge of course.

Expert:  Legal Ease replied 3 months ago.

Is there anything more I can help you with at this point in time?

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