OMG! Getting out of a contract?

[Goose and Fig]

We've been paying on a pole barn. Instead of interest, they are charging us monthly "rent" as if we were renting a storage unit. I went to make a payment of Friday- our balance was 1770. I paid 1000. Could not get to the bank for more money because of the storm. I call today and say- "I want to finish the balance and pay the 770". They say I now owe 1200. WTH????? My next "rent" payment isn't due until the 24th. It's not even 1 business day difference!

Anyway to get out of this without hiring a lawyer?

 

[Boyd]

it sounds like they are charging interest, or an early payoff fee.

 

[Pumpkinpup]

Good Grief!!!! I have never heard of such!

 

[Goose and Fig]

It just doesn't make sense! If I would have paid the 1770 on Friday, we would have been paid in full. How can one day difference add that much to the balance? I worked in Accounts Recieveable for several years- and I know this is not right.

 

[WingingIt]

Get that contract out and read it very carefully to see if they put in a fee for early pay off, that's what it sounds like to me. If the next payment wasn't due yet, it shouldn't be the next month's payment/rent/interest/fee......so it must be something else. If you read it all and there's nothing in there, I'd take it down there and demand they show you where it says they can do that - and then remove the fee if it's not in there and pay that sucker off immediately so you don't have to mess with them again.

 

[herfrds]

Friends had a similar problem. They owed $1000 and the guy was charging them interest. Everytime they just about had him paid off it would be back up to $1000 again. That guy got over $5000 out of them before they hired a lawyer and got him to clear the debt.

Definately go through the contract if there is no fee for early payoff then call them on it. Check the interest rate listed in the contract too.

 

[rancher hicks]

What does it say in your contract?

 

[Goose and Fig]

I can't find my contract! We are between houses, and I have no idea where it is. This thing should already be paid off- but the fees are just ridiculous. Seemed like a good idea at the time!

 

[alicefelldown]

If you ask them to provide a signed (with your signature) copy of the contract aren't they legally required to provide one? It's not like they don't have it on file. And if they can't provide you a copy, then under what terms of your 'invisible' contract allow them to charge you for extra?

I'd call them, say you've gone over your contract and do not see what the new charge is for. Ask them to provide a copy of your contact with the fees highlighted, and don't pay them a cent (outside of your normal billing amount on the correct date) until they do.

 

[Goose and Fig]

Quote:
Sounds like a plan. I get so frustrated sometimes I can't think. Thanks