Contract Dispute after New Management...

[MpressL]

I signed a contract with "Rentway" to purchase an HD Television. According to the rental/purchase agreement if you did not purchase the merchandise within 90 days, that you had up until 36 months to either pay the full cost, or to purchase at 50% of the full cost with a penalty fee which was 5-7% depending how close to the end of the contract you purchased. (At the time it did not really make sense because anyone could just pay half and then indicate they were done, but I verified it with the manager "Reggie" at the time I signed the contract.)

I made regular payments for 17 months, at which point I fell behind 60 days (approx. $372.00) however at that time I was informed that the store was purchased by another company that did not have the same policy. I do not have a copy of my contract, are they obligated to provide me with a copy? if so, aren't they obligated to honor that agreement? if they cannot produce a copy does that void the remaining debt? The total I would owe to pay off to the contracts terms is only $195. Can I send them a letter notarized with a cashiers check, for that amount and consider the matter closed.

I need to add that they have been calling my phone 5 times a day, my mother's phone out of town, and both my office and my work cell leaving threatening messages, indicating the property is "stolen."

Any advice would be appreciated.

 

[Michael Wechsler]

I don't understand. If you know how much you have to pay then that is what you have to pay. Their policy is irrelevant. Your agreement with the prior company is what governs UNLESS your agreement specifically gives them the right to make certain changes. I'm guessing that isn't the case. Sending to them a notarized letter isn't going to do anything. You may want to tell them that they have no choice but to honor the prior agreement. If they dispute it, ask them to send you a copy of the agreement with the area highlighted that allows them to do so. Perhaps that's the best choice. At this point, if you don't pay them anything then you've got non-payment problems and have no remedy in any court shoudl they choose to sue you.