If a business closes, where doyou make your payments?

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If a business closes, where doyou make your payments?

I bought a vehicle from a Buy Here/Pay Here business. Now the business is closing. They have made no attempt to tell me where I can now make my payment. I have tried for 3-4 days to contact them, no answers the phone and no one is in the office when I go by. What do I do from here?

Asked on August 10, 2011 Florida

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 10 years ago | Contributor

First, document your attempts to contact them, including by sending some letters to them in a way you can prove delivery, and maybe by even photographing yourself standing by their closed office (with a date stamped camera). Preserve those documents. Then keep the money you would need to pay them handy, possibly in a separate savings account (if you need to do that, to make sure you have it available), for the next several years. If you can't find them, you can't find them; but you can stand ready to pay them if you do, and in the meantime, you can document that you have taken all reasonable steps to locate them; that way, if they or a successor in interest shows up later asking for the money, you can prove that you were not delinquent or in default, and any failure to pay was do to factors beyond your control.


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