Legal Question in Credit and Debt Law in Tennessee
Paid in full
A car I had financed was totaled. My insursance company paid $6,886. of the balance left. I received a letter from the finance company stating that after applying the funds from the insurance company there was a deficieny balance of $2,005.84. I paid this amount in full within a couple of days of receiving their letter. Now six months later they are saying i owe an additional $1,100 dollars. What are my options?
1 Answer from Attorneys
Re: Paid in full
Your first course of action would be to demand that they provide proof of the debt. If their first correspondence stated to you that if you paid the $2000 amount the debt was paid in full, then you would have an excellent argument that they cannot come back and collect any other amount. If, on the other hand, their demand letter left room for additional fees or anything else, you may be stuck owing the additional amount. For $1000.00 it's probably worth consulting with a lawyer. Take along your documents, including proof of payment and demand and a lawyer should be able to help you sort this out.
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