Legal Question in Credit and Debt Law in Kentucky
Paid In Full Law
I had a car loan through bank ''A'', I refinanced through bank ''B''. Bank ''B'' contacted bank ''A'' and received in writing or fax full amount owed (including late fees) to bank ''A'' and cut them a check. I received loan papers from bank ''A'' stamped ''PAID IN FULL'', but ten days later I received another letter from bank ''A'' stating that they had posted a payment incorrectly and I owed them that payment plus late fees. Can they do this even though I have all papers stamped ''PAID IN FULL''?
1 Answer from Attorneys
Re: Paid In Full Law
i would need to review your loan papers in detail to give you a definitive answer as to your liability in kentucky, but it sounds like the bank messed up. however, they may try to get you regardless by using collection practices and reporting you as delinquent, so you want to make sure you creat a paper trail of letter to the bank tellign them that you do not owe this and you expect they will not seek collection or you will proceed in an appropriate manner if they do. if you would like to speak in more detail e-mail me at [email protected]
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