Q: we traded in our SUV for another SUV and dealership hasn't paid off our old loan. It's been 4 months, what can we do?
We traded in our old SUV for a newer one, we still owed about 7k on the old loan, dealership has been dragging on that they have sent the payoff and all paperwork needed to our old loan place, but i'm still getting calls from previous lender saying nothing has been sent and were behind 3 "late" payments.
A:
You should seek legal counsel immediately. It seems you have been given the round-around by the dealer and this will affect your credit score due to the late payments. If the dealership does not provide you evidence of payment and copy of the paperwork, I would have an attorney contact them directly. There is no reasonable excuse for a four-month delay. If you are provided with evidence of payment and copy of the paperwork by the dealer, then you or your attorney should contact the previous lender with the evidence that payment has been made.
Good luck.
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