Car loan sold to New Bank

[protectmyassets]

I began receiving a car payment notice from a bank I nad no previous dealing with. I get alot of unsolicited bank offers so letters from unknown banks go in the trash. After the third letter I opened it and found it was a new bank requesting a car loan payment that was overdue. The amount due matched an existing laon amount and when I checked my record I had not paid the prior bank in two months. ( I have three teenagers and three car loan sso yes I can miss one by accident) I called the new bank and they told me they had bought out my previous bank. I requested a copy of the loan agreement and they mailed me an unsigned agreement with my prior banks letterhead. Question is do I have to pay this new bank if they cannot provide proof of a signed loan agreement showing they are the new holder of the loan?

 

[Michael Wechsler]

What unsigned agreement were you sent? If they bought out your debt from your prior bank, chances are it is just a matter of time to get a signed copy and you're only prolonging the inevitable. Doesn't that seem the case? You can keep postponing paying but it will probably rack up even more charges during that time, no?