Killeen, TX asked in Consumer Law and Contracts for Texas

Q: Predatory lender gave false, misleading information in contract and will not provide proper receipts of payment

I was targeted by an aggressive door to door salesman, I was coerced and pressured into signing a contract for a Kirby vacuum and promised monthly payments of $105.49, $2,800 payoff before 36 months and $3,797.64 if I’m still paying after 36 months, 21% interest rate. I was turned over to a lending company. I made 2 payments in which I asked for a receipt of payment for my records, and was emailed a confusing statement that was hard to understand, and a payoff letter that stated I had until 10/11/21 to payoff the vacuum or I have to pay full price when I was initially told I had 36 months from the date that the contract was signed on 7/23/21. It was also stated in the contract. Lending company has been harassing me for payments that aren’t yet due, threatening to call daily, and calling late hours. I feel they are predatory lenders, false and misleading. What should I do?

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1 Lawyer Answer
Teri A. Walter
Teri A. Walter
  • Consumer Law Lawyer
  • Houston, TX
  • Licensed in Texas

A: First, I recommend that everyone Always keep their own records of payments made, either by making the payments in a way that generates a record (like a check) or by keeping a copy of the payments made. That way you are never in the position of having to look for a receipt.

As to whether the seller has violated the contract, no one can tell without reviewing the contract, your payment records, and any correspondence from the lender. Without that information, it's impossible to provide good advice as to what can or should be done.

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