Legal Question in Credit and Debt Law in Missouri
If you owe a payday loan on a check that did not clear and you send them a money order for a small payment showing them you are willing to pay this off and they return that payment to you, can I consider this bill paid?
Asked on 10/12/11, 7:56 am
1 Answer from Attorneys
Anthony Smith
LawSmith
Unless your contract calls for it, there is no requirement that the creditor accept partial payments. When one writes an insufficient funds check, the holder of the check may seek damages in excess of the face value of the check in Court. It might be well for you to save your money and pay the entire balance as soon as you are able, so as to avoid the extra liability.
Good luck
Answered on 10/13/11, 3:13 am
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