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Do I Keep Paying for My Solar Loan or Can I Stop? Addressing Credit Questions
One of the most frequently asked questions from homeowners stuck with faulty or misleading solar panel agreements is: "Do I keep paying for my solar loan, or can I stop?" The answer depends on several factors, and it’s ultimately a personal decision. However, there are legal considerations that could impact your financial standing and credit score.
Understanding Your Options
If you choose to continue making payments, your credit report will remain in good standing. This is crucial for those who want to protect their credit score, especially if they plan to finance other major purchases in the future. However, many homeowners face a cash flow issue when trying to cover both their electric bill and their solar loan payment—especially when the promised savings from solar panels don’t materialize.
What Happens If You Stop Paying?
Legally, when we represent homeowners in solar panel lawsuits, we send a demand letter to the lender stating that our client does not believe they owe any further payments. If the homeowner decides to continue making payments, we ensure they are made under protest, meaning we will later demand a full refund through legal action.
Additionally, our demand letters explicitly state that if a lender reports negative credit activity due to non-payment, part of our settlement will include credit repair. This ensures that homeowners do not suffer long-term damage to their financial reputation due to a faulty solar agreement.
Should You Keep Paying or Stop?
Ultimately, the decision comes down to your personal financial situation and risk tolerance. Some factors to consider include:
Can you afford both your electricity bill and solar loan payments? If making both payments puts you in a financial bind, non-payment may be a viable option.
Do you want to protect your credit score? If so, continuing payments (under protest) while pursuing legal action is the safer route.
Has your lender engaged in misleading sales practices or misrepresented the system’s performance? If so, you may have strong grounds for a lawsuit.
Taking Legal Action Against Your Lender
Many homeowners are in this predicament because solar companies misrepresented the true cost and benefits of their systems. If your solar installer promised energy savings, a 25-year warranty, or tax credits that never materialized, you may have legal grounds to cancel your loan and seek damages.
Our firm specializes in suing solar lenders on behalf of homeowners who were misled. If you are struggling with high payments and an underperforming system, we can help you fight back. Contact us today for a consultation to explore your options.
Final Thoughts
Stopping your solar loan payments is a serious decision that can have financial consequences. However, if your solar lender engaged in deceptive practices, you have legal rights and may not be obligated to continue paying. Whether you choose to pay under protest or stop payments altogether, we can help you navigate this complex situation and work towards getting your money back.
If you have questions or need legal assistance, reach out to our team today.
Our Results
What clients are saying
"Took Care of Everything"
I felt completely stuck when Encor went out of business, leaving me with an unfinished solar system that didn’t work, failed inspections, and a loan I still had to pay. On top of that, they misled me about tax credits and savings, and I ended up paying more in taxes and insurance instead. Prevost Law Firm stepped in and took care of everything. Their team handled my case with professionalism and compassion, and I’m so grateful for the outcome. If you're struggling with solar issues, you need to call them. (Cara J.)
"Exceeded My Expectations"
My experience with Encor Solar was a disaster. They installed a system that didn’t work, used an unlicensed subcontractor, voided my roof warranty, and lied about the need for batteries during power outages. When they went out of business, they left me with an unfinished system and no way to fix the mess they created. Prevost Law Firm was amazing—taking on my case and delivering results that exceeded my expectations. They are true advocates for homeowners, and I’m so grateful for their help. If you're facing a similar situation, I can’t recommend them enough! (John S.)
"Pleasure To Work With"
Would recommend 100%. Neal and his staff did an excellent job keeping me informed about the process every step of the way. He was able to get a settlement. He was a pleasure to deal with. (Gabrielle S.)
"Communicated Each Stage Clearly"
Working directly with Mr. Prevost was excellent. Having worked with several attorneys in several fields regarding general real estate matters, I was very pleased with my specific niche case against UCC-1 filings regarding solar liens. Mr. Prevost knew exactly how things would play out in handling the matter and communicated each stage clearly with me as to what I should do and what his team would need from me in the process. (Cody McDonald)
"Changed Our Lives
We can’t thank Prevost Law Firm enough for what they’ve done for us. My wife and I felt utterly defeated and trapped by the $73,590 loan for a solar panel system that never even worked. Encor, the installer, went out of business before the system passed inspection, but Solar Mosaic still demanded we pay for it. As disabled homeowners, we felt taken advantage of and didn’t know where to turn.
From the first phone call, their team made us feel like we weren’t alone in this fight. They listened to our story, fought tirelessly on our behalf, and never gave up until they got results. Thanks to them, our $73,590 loan was completely canceled, and we were refunded every single dollar of the $28,493 we had already paid into the loan. Best of all, we got to keep the solar panels for free!
When we got the news, we were overwhelmed with relief and gratitude. My stroke has already made life challenging enough, and this financial nightmare had only added more stress. Now, thanks to Prevost Law Firm, we can breathe again and finally focus on getting the panels working for us.
To anyone dealing with a solar panel loan disaster: don’t wait—call Prevost Law Firm. They are incredible, and they truly fight for people like us. We are so grateful we found them, and we hope others in similar situations will reach out for their help.
Bart and Diana Daniels
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The Law Firm Solely Focused on Solar Panel Lawsuits
Neal Prevost, Trial Attorney With 31 Years of Experience
Feeling Lied To About Solar?
Millions of Americans have been duped into one-sided solar contracts. If you were misled when purchasing solar panels, you are not alone.
Is your solar contract costing you more money that it’s saving you? Did the solar salesperson misrepresent the savings or outright lie to get you sign up? Did you lose your warranty?
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Nothing herein is intended, and does not, create an attorney client relationship and is for informational purposes only. The Prevost law firm is licensed in Texas and is licensed to practice law in all Texas state courts and in multiple Federal Courts and Arbitration in 46 states. Solar sales are governed by both state and federal law. The attorney client relationship will only be created after the parties enter into a signed letter of representation.