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Partial payment of debts

Partial payment of debts

Generally speaking, when a person owes several sums of money to another, he or she has the right to decide which amount to pay first, unless another agreement is stipulated by contract. For example, if I owe a friend money on a loan and also another loan for the purchase of his car with the payments being made in installments, I have the right to decide to pay off a part of my loan with the $ 200 I handover today, with the aim of lowering the higher interest, if both debts are due. I should then clearly indicate this possibility.

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Me Annie Lapointe

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