Legal Question in Credit and Debt Law in Texas
What is my legal responsibility?
I sold a boat on consignment for 22.5K the dealer that sold it was supposed to pay off my remaing loan of ~15K and and I was to get the difference, minus 10% when the title cleared. The boat dealer payed off my loan and I recieved the title. Now the bank says the check the dealer sent came back NSF. So now we have the title and a letter stating our loan balance of $0 but the bank now says we have a balance of ~15k. I have contacted the dealer to see what happened, but what are my legal responsibilitys? Do I keep making payments on the loan ? Thanks for any insight!
2 Answers from Attorneys
Re: What is my legal responsibility?
You have to make payments until the dealer clears the NSF check. You might consider filing theft by fraud against the dealer for the 15K he pocketed.
Re: What is my legal responsibility?
Of course you have to make payments. Your balance was not paid off with an NSF check.
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