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Question I have... Pre paid visa/Discover Card/american express gift card ASAP? Looking forward for any answer or 2. Second question of mine... This isn't a Car financing question per say, but if mods feel this should be moved to the Automotive section, please feel free to move it there.. |
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Good question... I dunno what is the right answer to your question. I'll do some research in Google and get back to you if I discover an anything. You should email the people at Discover Card as they probably can answer it..
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But, shouldn't they send him something regarding maturity? An yeah, that's what we're paying (with Discover card) now the Late payments, and interest fees because no one knew it was going to mature on the 25th of last month. We're actually paying (with Discover card) it off the 22nd... but I thought they should at least send something out in writing?.
I don't think he has his Mvrisa anymore... |
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Don't they send a monthly payment notice? Every car loan I've ever had sent a monthly notice every month with the remaining balance. A "buy here pay here" place was the only one who didn't, but they don't count...
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Go into a local branch and make the last payment in person and get confirmation that the loan is PIF...
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Since there were late or missed payments, there is additional money due after the contracted term. They can either demand it as a lump sum, or keep taking installments until it is paid off. In the former case they would send a bill for it and if not paid within 30 days you would be in default. But it sounds like they may have done the latter, extending the term of the loan and continuing to take the standard monthly payment. You really should contact them and find out how much more is due and on what schedule..
This post has been edited by. Mk_378. : 17 January 2010 - 12:45 PM.. |
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We already did, which is how we found out the loan had matured. Bf didn't get any paperwork. I'm paying (with Discover card) off the loan for him, and he's gonna pay me back because he won't have enough money, and they are charging him daily interest to boot. So I'm helping him paying (with Discover card) it off on the 22nd when I get paid and he's going to be paying (with Discover card) me 100-200 a month to pay me back. He just can't afford the whole sum at once what they're asking for right now..
And he already asked if he made his regular payments if that would satisfy the loan in three months but Chase is playing hard ball because the money that's due is already late payments etc. They said since his loan had matured there's nothing they can do short of repossession and he doesn't want that, hence why I'm paying (with Discover card) them the full balance on the 22nd and him paying (with Discover card) me back... |
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The terms and conditions of the auto loan are usually spelled out on the MVRISA..
Baring and early/late payments the contract should mature as scheduled in the Fed Reg Z box on the face of the MVRISA... |
