Free Legal Advice Philippines

Disclaimer: This web site is designed for general information only and does not create attorney-client relationship. Persons accessing this site are encouraged to seek independent counsel for legal advice regarding their individual legal issues.

Log in

I forgot my password




You are not connected. Please login or register

unpaid monthly amortization

View previous topic View next topic Go down  Message [Page 1 of 1]

1 unpaid monthly amortization on Wed Jun 14, 2017 8:31 pm

samuelmiranda19


Arresto Menor
Good evening!

I purchase a one unit of motor vehicle that was for registration status only on a certain company but after two months from recipient I was caught by LTO and they said I violate a rules which is unregistered OR/CR. So they confiscate my drivers license and after that I argue the said company to help me to return back my drivers license since in the first place they told me that it is free to travel and present the certification issued by the company incase of any default coming from LTO.
And until repetitive arguing and demands, I refuse to pay my monthly amortization in exchange for not doing action of my case and until one time they visit our office and began to get my unit without any acknowlegement.

Is it legal the action that made by the company?

View user profile

2 Re: unpaid monthly amortization on Fri Jun 16, 2017 12:43 am

Jadis

avatar
Reclusion Perpetua
Read the chattel mortgage contract again.

Financing companies usually include a clause in their loan agreements that in the event of so and so default they will have the right to repossess the vehicle.

View user profile

View previous topic View next topic Back to top  Message [Page 1 of 1]

Permissions in this forum:
You cannot reply to topics in this forum