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Infolawyer, Lawyer
Category: Consumer Protection Law
Satisfied Customers: 56826
Experience:  Licensed attorney helping individuals and businesses.
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Hello I am very confused with the information my car company

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Hello I am very confused with the information my car company is giving me. My original loan term is 75 payments, I deferred 2 car payments or the 6 year loan. They are now saying that I owe 77 payments instead of 75 payments. Now to me they have added an additional 2 payments instead of deferring 2 payments. By the way they keep telling me this is a simple interest loan, whatever that means. I understand interest fees but too ass an additional 2 payments I don't think so is this legal and what should I do too fix this problem? Who can I talk too? Thank you
Hello, are the additional payment instead of interest or in addition to it? have you spoken to management or gotten a breakdown to confirm if charges match to your contract?
Customer: replied 3 years ago.

I have requested that they send me my payment history, all I know is that they are saying I owe 77 payments my original contract was for 75 payments. They are saying that they tacked the deferred payments onto the end of my loan. Now if I am doing this correctly in my head they added two payments to my loan, they did not defer.


From what you have mentioned, they are not properly accounting and charging you. You need to get the payment history, a copy of their statement and your contract and then go line by line. Typically, such added payments are improper and the creditor may only tack on interest as contracted. If company wont cooperate you may involve the BBB and may involve local counsel. would you like a directory for that purpose and is the answer acceptable?
Customer: replied 3 years ago.

Yes this answer is acceptable and yes I would like a directory please. Thank you for your help


Very welcome. and are excellent resources used by lawyers too. I wish you the best. Kindly click on an excellent rating for the answer.
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