Legal Question in Consumer Law in Utah

I bought a diamond ring for around 3,000 tried to take it back before the first payment they wouldn't, they said it had to be within the first three days. they could do it but i would have to pay 1,000 to do it. now about a year later I have payed about 700.00 at 28% interest and the balance is still around 3,000. so if i gave them back the ring would they have to use what i put toward the ring as part of the penalty . I also called them to make an appointment to take back the ring . they said they would have to look at the ring, and would only be able to give me 70% of the ring because that's all they could get out of it. I asked them if they would but the 700.00 I had already but toward the ring. they said they would see. don't know what to do.


Asked on 12/03/09, 6:15 pm

1 Answer from Attorneys
Alvin Lundgren Alvin R. Lundgren, L.C.

You may try to sell the ring to another purchaser if you can get more money. Used jewelry is often worth much less than the new price. Try to negotiate a lower interest rate, or refinance the loan. If you have a lot of other, you might consider bankruptcy.

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Answered on 12/09/09, 9:59 pm


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