Legal Question in Credit and Debt Law in Tennessee
Vehicle
I ran into financial problems and could not pay my entire car note. I called the car lot and asked if I could reduce my montly payments from 250.00 a month to 100.00 a month.
(It's a tote the note lot), the car salesman but me on hold to ask the owner, and came back stating it was o.k.
I made 100.00 car payments for 14 months. One morning, I woke up to find that my car was gone. After reaserch , I found out the manager of the car lot had the car repossessed and wanted the differece of 150.00 for 14 months, of course I didn't have it. There was a verbal agreement, and I was allowed to make 100.00 car payments for 14 months without so much of a note, phone call stating it was no longer acceptable. Is what the car lot done legal?
1 Answer from Attorneys
Re: Vehicle
Unfortunately, the answer is probably yes. In this case, because there was no writing of your modified repayment agreement, you would have to prove an oral modification. Even if the written agreement does not specifically prohibit this, it still is extremely difficult to accomplish.
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