Legal Question in Credit and Debt Law in Florida

I financed a car from a dealership in November of this year. Other than the down payment, I have made one payment so far which was this month's payment. I just received a call today that my car loan was sold to another company than the bank that is listed on my contract. On the written contract that I have with the dealership where I got the car only the bank I initially got financed with is listed, I have not signed any contract with this new company. Is it legal for them to do this without my written consent?


Asked on 12/30/13, 8:56 am

2 Answers from Attorneys
David Slater David P. Slater, Esq.

Yes. Debt is sold all the time.

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Answered on 12/30/13, 10:03 am
Douglas R. Coenson, Esq.

This is done all the time, and it is legal. It is very common for this to happen with home mortgages as well. Terms of your loan other than where to make payments and the company should be unchanged.

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Answered on 12/31/13, 3:34 pm


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