Legal Question in Credit and Debt Law in Florida

Hello, I took a personal loan out about a year ago and had been making payments and recently I found that the company went out of business or something, as they were no longer servicing my loan. I didn't get any notices but suddenly another company was ACH ing my bank account for the same payments I would have for the other company. I didn't give them permission for that and I'm not sure if my loan is still legally valid. What are my options? Do I still have to pay the loan? How should I go about seeing if my loan was transfered legally and whatnot.


Asked on 5/23/17, 11:57 am

1 Answer from Attorneys
Barry Kaufman The Law Office of Barry W. Kaufman

Sounds like your loan was sold or otherwise transferred to this new company. Contact the new company and ask for a copy of any notices that the old company sent, or the new company sent, informing you of the change of servicer. They should also be able to furnish you with a payment history so that you know your payments are being applied to your loan.

Read more
Answered on 5/23/17, 12:01 pm


Related Questions & Answers

More Credit, Debt and Collections Law questions and answers in Florida