Legal Question in Business Law in California

Financing and installment contracts

I own a furniture store and finance company changed from buying installment contracts. Per our agreement i am supposed to buy back all the past due accounts but they decided to sue me for all the contracts even the current ones. They also told my customers to stop paying me directly and pay the finance company but they stop collecting on them making them past due. They also sue me for 17,319 and now claim they mitigated damages to 14,060 including attorneys fees. They have acted in bad faith and i want to know what i can do to defend myself and if i have a case for a counter suit.

Asked on 9/30/06, 2:47 pm

2 Answers from Attorneys

Terry A. Nelson Nelson & Lawless

Re: Financing and installment contracts

It is unlikely the finance company has any contractual right to interfere with your customers. Doing so damages you. You certainly can defend the claimed amounts owing, and you can cross sue for the business interference. Feel free to contact me if interested in pusuing your rights and remedies.

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Answered on 9/30/06, 3:32 pm

Re: Financing and installment contracts

Certainly they cannot unilaterally change the terms of your agreement. Call me directly at 16192223504.

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Answered on 9/30/06, 9:07 pm

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