Question
Car finance paperwork doesn't reflect late fee and now they claim I owe a late fee. What is the law on this?
I bought a used car from a local company that is financing it. According to my records I am up to date on payments and now they claim I owe them almost $70 in late fees. I looked over my paperwork that I signed and no where does it state what the percentage/fee is for late fees and I know I do not owe them any. I've asked them in writing 2 times now to provide me with a history of my payments and something to show where the late fees came from. Instead the send me a demand letter for the amount they claim I owe with no explaination, no breakdown, nothing. I have told them I will pay it as long as they can provide me with something to prove it's legit. At this point I just need info on the fact that none of their finance paperwork explains late fees. This company is based in Florida.
5 months ago - 1 answers
Best Answer
Chosen by Asker
Send another letter to them via registered mail if you didn't send the first letter that way. Make sure your letter is specific, ask for exactly what you want (copy of contract, account summary, etc.) Keep copies of everything you send them and anything they send you. If you speak to them on the phone, make notes that include the date, time, and what was discussed. If you come to an agreement on the phone make sure they put the agreement in writing and send it to you before you do anything. This is basic contract law. If the contract you have with them does not include anything about late fees, you are not obligated to pay them. Any civil judge in this country would refer back to that contract for a schedule of fees. If they do not provide you with the documents you requested do not pay them. Their only recourse is to repossess your car or take you to civil court, which they won't do because they don't have any documentation to prove their claim. Also, get copies of your credit reports and make sure that they aren't claiming you are delinquent. If there is something on your credit report, file a dispute with the credit bureau. Go to the Better Business Bureau and file a complaint. The BBB will get in contact with them and help resolve the issue. The most important thing for you is to collect as much documentation as you can, just in case you end up in court.
by Me
5 months ago
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Other Answers
I would report them to the Better Business Bureau at www ... They should look into it and find out what's going on. A lot of companies are scared of the BBB because if they find out they are doing something illegal they can shut down the whole company. Make sure when you make the report to include everything you can and explain to them that you sent something in writing. FYI next time you send something in writing send it certified mail (which you can do at your local post office) that way you can prove that you sent it. Otherwise the company can deny ever receiving it.
by Wendy- 5 months ago
Send them a letter by certified mail, with a return receipt. In the letter, state that they have 30 days to provide you with proof of your payment history and that you owe these late fees and if they do not, their claim is invalid and you will report them to the Better Business Bureau and the Federal Trade Commission for deceptive business practices. To file a complaint or to get free information on consumer issues, visit ftc.gov or call toll-free, 1-877-FTC-HELP (1-877-382-4357). Wendy gave you the BBB site.
by Raven- 5 months ago