Can Lender Refuse Payment

Can a finance company turn down any form of payment?

Question: Can a finance company turn down any form of payment and if they do, is the bill considered automatically paid in full by law?

Cash or certified funds cannot be turned down otherwise, it depends.

Answer: A finance company cannot turn down cash or certified funds. Whether they can decline a personal check depends on the facts — the terms of the agreement, whether they have reason to believe it would be dishonored, etc.

The consequences of an improper refusal do not include that the bill is deemed to be paid in full. They would include cessation of interest from the date of tender if the money is paid subsequently.

If you are experiencing legal trouble with your lender, contact ECLG online or give us a call at (312) 626-3585 to schedule a free initial consultation. Our collection defense lawyers have more than 200 years of collective experience and are ready to answer your questions. Se Habla Español.

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