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four months later company say we need to reapply for loan

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  • four months later company say we need to reapply for loan

    Hope this is the right forum.
    We got a mattress on credit four months ago with deferred payments (national mattress company and bank).
    They just now contacted us and says there was a mix up and the bank says the store never faxed a paper, and the store says the bank never told them about the paper.
    They say our app has 'expired' and we need to fill out a new one.

    I have never heard of anything like this so Im not sure what to do. I saw a couple internet postings like it that resulted in two loans being due...?

  • #2
    Re: four months later company say we need to reapply for loan

    I wish to inform you that it is the agreement signed or orally concluded between the parties that has jurisdiction in this matter. You may serve a written notice on the other party. If they do not resolve the matter then you may file a lawsuit. You may show all documents to the court that support your view point. The court will consider all the facts and decide the matter.

    AFF

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    • #3
      Re: four months later company say we need to reapply for loan

      Originally posted by cincyplanet View Post
      Hope this is the right forum.
      We got a mattress on credit four months ago with deferred payments (national mattress company and bank).
      They just now contacted us and says there was a mix up and the bank says the store never faxed a paper, and the store says the bank never told them about the paper.
      They say our app has 'expired' and we need to fill out a new one.

      I have never heard of anything like this so Im not sure what to do. I saw a couple internet postings like it that resulted in two loans being due...?
      I'd have no problem with re-signing a new application - as long as they use the information they obtained for the original application (including the credit report they used at the time), and there isn't a change in the terms and conditions on the credit account. Get something in writing on that point, and go forward with re-submitting the application.
      "If it ain't in writing, it never happened."
      "A lack of planning on your part does not constitute an emergency on my part."
      "You can never make the same mistake twice, because the second time you make it, it's not a mistake, but a CHOICE."

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      • #4
        Re: four months later company say we need to reapply for loan

        So you would advise against signing into a new agreement?

        Another point that was brought to us, is if we do sign a new agreement, the bank can actually decline the new agreement..where would that leave us.

        Im very confused in this matter.

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        • #5
          Re: four months later company say we need to reapply for loan

          Sandyclaus,
          You must have posted at the same time. Anyway, they want us to bring all new stuff and fill out new forms even using current pay check stubs, etc. They didnt say anything in the short conversation with my wife about terms or conditions would change or not.

          Comment

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