Legal Question in Credit and Debt Law in Iowa

Refusal of partial Payment

I received a call from a creditor because I am behind on my payments. I offered to make a partial payment and they refused to accept it and said to call them back when I can make the full payment. Can they legally refuse to accept a partial payment? I am attempting to clear up my delinquency and feel they would be interested in getting some money instead of none. Why would they want to refuse partial payment and make arrangements for the rest?


Asked on 5/02/06, 9:21 pm

1 Answer from Attorneys
Thomas Moens Moens Law Offices, Chartered

Re: Refusal of partial Payment

Could be a number of reasons. If it is the original creditor, perhaps they cannot sell the debt if it has been partially paid. If it is a collection agency, maybe they are only authorized to, or they only get paid to, collect the entire amount.

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Answered on 5/04/06, 5:59 pm


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