Q: American First Finance, refusal to terminate lease agreement even if I return cell phone?
Leased note 9, june 2019. Was 928.00, plus I put 50.00 down. Here it is 5 months later, and when I try to explain I lost my job, and want to return cell, they refuse by saying if the store accepts it back get a letter stating it, but they know the stores will not take the cell back. I have 724.00 in equity, they claim still owe 630.00
A:
1. Forget about how much it cost new; not relevant.
2. The store that sold you the note 9 did not loan you any money;
3. all they did was approve you for credit and then sold the note to American First Finance;
4. they are trying to collect the money and do not want the phone.
5. Have you considered paying it off then selling the phone, to recover some of your loss?
Justia Ask a Lawyer is a forum for consumers to get answers to basic legal questions. Any information sent through Justia Ask a Lawyer is not secure and is done so on a non-confidential basis only.
The use of this website to ask questions or receive answers does not create an attorney–client relationship between you and Justia, or between you and any attorney who receives your information or responds to your questions, nor is it intended to create such a relationship. Additionally, no responses on this forum constitute legal advice, which must be tailored to the specific circumstances of each case. You should not act upon information provided in Justia Ask a Lawyer without seeking professional counsel from an attorney admitted or authorized to practice in your jurisdiction. Justia assumes no responsibility to any person who relies on information contained on or received through this site and disclaims all liability in respect to such information.
Justia cannot guarantee that the information on this website (including any legal information provided by an attorney through this service) is accurate, complete, or up-to-date. While we intend to make every attempt to keep the information on this site current, the owners of and contributors to this site make no claims, promises or guarantees about the accuracy, completeness or adequacy of the information contained in or linked to from this site.
