Date payments are Due
When a payment is due - is the postmakred mail date on the payment count - or must the payment be received by the due date.
Example: Due 5/10 - mailed and postmakred 5/10.
Asked on 5/01/07, 2:08 pm
3 Answers from Attorneys
Scott Riddle
Law Office of Scott B. Riddle, LLC
Re: Date payments are Due
If it is due to the creditor (or whoever) on a certain date, it generally means just that - due in their hands that day. Rarely will it mean the date you give it to someone else (ie, the Postal Service, courier, etc.). Obviously, there are occasions where it is specified that the postmark controls a date.
Answered on 5/01/07, 2:15 pm
Paula McGill
Attorney at Law
Re: Date payments are Due
It all depends on the contract.
Most contracts with car lenders and mortgage companies require you to have the payment there on the due date. In fact, they often recommend that you pay a certain number of days in advance to ensure that it arrives by the payment date. However, the most important thing to review is the contract.
Answered on 5/01/07, 2:15 pm
Glen Ashman
Ashman Law Office also dba Glen Ashman Attorney
Re: Date payments are Due
As a general rule, a payment isn't a payment until the creditor receives it.
Answered on 5/01/07, 2:30 pm
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