Legal Question in Consumer Law in Florida

Breach of contract

Can a financial Institution increase your monthly payments on a car note? I financed a vehicle with fifththird bank and I was without insurance for 5 months. They went ahead and purchased insurance in my behalf and now they are requesting full insurance payment with my car note which doubled my car note, now they are saying they will repo the car if I dont pay them for the insurance they purchased. I have been making payments on my vehicle have not missed payment. Can they do such a thing, is isn't that considered breach of contract?


Asked on 4/20/09, 4:25 pm

1 Answer from Attorneys
Alan Wagner Wagner, McLaughlin & Whittemore P.A.

Re: Breach of contract

It is likely that you are the one that breached the contract when yo failed to maintain the required insurance coverage.When you do that, the bank can buy the coverage for you. It is A LOT MORE EXPENSIVE that if you buy it, so get it replaced with coverage that you secure. The agreement you signed allows them, almost certainly, to add the coverage bill to what you owe to them.

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Answered on 4/20/09, 9:29 pm


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