Tyler, TX asked in Contracts for Texas

Q: I had an auto loan. I made all 72 payments in the contract. Now the finance company says I owe another $5900.

They are saying this is from added interest if payments are made past the due date. Is this legal?

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1 Lawyer Answer
Mohamadou Aminou
Mohamadou Aminou

A: When you say that the finance company is stating that you still owe money on the ground that payments were made past the due date, does this means that even recognizing having paid fully, are you also admitting that those payments were made not according the the schedule on the contract?

What is legally biding in a contract is the terms agreed by the parties; meaning that if the company is claiming more payments due to the over delay, it has to be a clause in your contract that provides this hypothesis inn case of the non respect of the terms agreed by the parties.

So you should carefully read your contract and find those clauses exists or not; if there are such provisions in your contract, their claim is legal in this case.

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