Common use of Disputed Accounts Clause in Contracts

Disputed Accounts. Occasionally, a customer may believe that they no longer must make payments on their account because of a dispute over the balance owing, the performance of the collateral, the service of the dealer, or similar situation. It is FIFS’s responsibility to record the Customer Complaint Report, the details of the dispute and to assist the customer in resolving the problem promptly. The office must avoid taking severe collection actions, such as repossession, until the legitimacy of the dispute is determined and all possible corrective actions have been attempted. As these accounts have high possibility of legal action in the event we repossess prematurely, approval must be obtained prior to repossession.