loan question

[berryo1]

I purchased a truck in Dallas, Texas and have paid on it the past 2 years. Last month the payment came back as undeliverable. I called the company but the phone is no good. I contacted the dealer I bought the truck from, the Chamber of Commerce and the Better Business Bureau, but they had no info on this company, I am not sure how to proceed from here? I cannot go there as I presently live in Louisiana! Can you help?

 

[army judge]

Google the name on the internet and see what you get. The firm might have been acquired by another company, or it might have gone bankrupt. Either way, some other entity has bought your note. I'd find them before they found me. I'm sure they have sent you information on where to send the payments, but it might have been misdelivered. Keep searching until you locate them, otherwise the "repoman" might be paying you a visit in the middle of the night!


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[mightymoose]

In the mean time, until you figure out where the payments should go, DO NOT SPEND THE MONEY. Do yourself a favor and put the money for the payments into an account and don't touch it. Save your returned mail as proof of your attempt to pay on time. Whenever things catch up you will have the correct amount of money set aside and have no trouble... just don't let them stick you with late fees, and make sure that they calculate interest as if the payments had been received on time.