Legal Question in Credit and Debt Law in Pennsylvania

collections

I have been paying off an old car loan for a few years now. It is going on 9 years since i got the orginal loan. I have an agreement to pay off the balence without interest. All of a sudden, they revoked that deal and are charging more interest then I am paying(200 a month). Can they do this?


Asked on 5/28/08, 5:54 pm

1 Answer from Attorneys
John Gibson John W. Gibson, Esquire

Re: collections

If you have a written agreement that the lender will not charge interest it should be enforceable. However if the agreement is not in writing and the original loan contract was in writing and provided for the payment of interest, the lender may be able to enforce the original agreement.

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Answered on 5/29/08, 10:01 am


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