Legal Question in Credit and Debt Law in Wisconsin

refusal of partial payment

If a creditor refuses my partial payment of cash, does that result in voiding the debt and making debt considered paid in full?


Asked on 11/20/07, 11:23 am

1 Answer from Attorneys
Jeffrey Murrell Law Office of Jeffrey L. Murrell

Re: refusal of partial payment

Probably not - it depends on the terms of your contract. A smart creditor will usually have language in the contract addressing partial payments, early pay-offs, etc., so read your contract carefully. If there are no such terms, then the creditor normally wouldn't waive anything in the contract that requires you to pay as originally agreed, and the contract remains valid and enforceable.

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Answered on 11/20/07, 11:49 am


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