Does a Lawyer who is trying to collect a overdue debt have the right to ad on interest on top of the bill?

Question

I have a debt collector trying to get money from a credit card that has already been written offf 4 years ago. What can they collect ? What can they do with a judgement if I was fiund at fault?

Answer 1

First of all check the statute of limiation in your state. If the debt is outside of it, you have an affirmative defense in court if they decide to sue. They can collect interest and fees that you agreed to pay when you used the card. Check your last billing statement for the interest rate. If they get a judgment they can seize your assets, or garnish your wages in some states. You are propably dealing with a Junk Debt buyer who bought your debt for pennies on the dollar. If the debt is still within the statute of limitation, your best bet is to try to settle with them. They may accept a fraction of the original amount.

Answer 2

If the compnay wrote it off 4 years ago then the collector can do nothing. If you wrote it off but the company did not then the collector can collect the amount of the debt only. Interest can be included as part of the debt up to the time that the collector took over. No aditional interest can be added from that point forward.

Answer 3

First, a debt collector is not necessarily a lawyer, yet may be working for one. Second, what do you mean by "written off"? Third, what do you own? Fourth, you may be "judgment-proof" - too poor to squeeze money from, but you may not always want to be that way. Your bad debt can ruin your credit rating. You see, there are no real secrets in life, no magic formulas. There are choices, and there are consequences. And to answer your first question last - it's not the lawyer doing it, but the 99 to 1 answer is "yes". Good luck.

Answer 4

Most accounts like this have a statement that you will pay interest until paid in full.

But if the account was truly written off, then the question is HOW DID THIS COLLECTOR GET YOU ACCOUNT INFO? Unless, the company did not write off your account.

Do you have any paperwork - from 4 years ago - which states the account was written off? If you do, send a copy to the Collector and to the Company saying - Why are you digging this up? Wasn't it written off?

Answer 5

The can collect the full amount of the debt, they put a judgement against your name and it appears on your credit stoppign you from purchasing a car, house, credit cards, And they can charge reasonable collection fees and interest in most states.

(I just looked up taking someone to small claims court ..t.his is basically what I found.....
Sell the stero, bigscreen and the goofy stuff you have that you can live with out, step up and pay the bill)

***THOSE OF US WHO PAY THE CREDIT CARDS ON TIME WANT TO THANK THOSE OF YOU WHO BLOW OFF YOUR RESPONSIBILITIES. WE NOW PAY HIGHER RATES TO FINANCE YOU.
IN LIFE, YOU ARE PART OF THE PROBLEM OR THE SOLUTION, THERE IS NO IN BETWEEN.********

Answer 6

confident: He can get a judgment and characteristic your wages garnish. yet he ought to take the right steps, he will ought to document suite interior the municipality the place the action is to ensue. you would be mentioned of the courtroom case, you are the defendant. in case you do no longer bypass, you unfastened, and a garnishment may be issued. Upon presentation of the garnishment, your corporation is had to stick to the ruling of the courtroom , or pay fines. in case you went to courtroom, the choose will evaluate your status expenses, your income, and supply something to the criminal expert to pay the credit card bill. This judgment will lock the expenses and no activity would be charged and no fees would be further. you're nicely forward, any further income which you would be able to get, you get to maintain. while you're no longer in courtroom, maximum situations the garnishment is for X% of the income earlier tax. So in case you artwork beyond prevalent time, you do no longer see something. Pay the charges and don't ward off the regulation, you are able to no longer win.

Answer 7

Yes, they can charge interest. With a judgment, they could conceivably file a lien in your home county for whatever property you own. Obviously, if you don't own property, this doesn't mean much to you.

Most of these collectors will settle for less than the principle amount, though...if you have some money, you may want to make them an offer.

Answer 8

His bill is paid by the debtee. He shouldnt be able I would give only the amount that you owed. If they cash it, its all over. Be sure to right on the check that it is pament in full to whoever you owe it to. Make it payble to the person you owe it to. I would even go to the place you owe and pay or send in the mail stating on the money order this is paid in full.

Answer 9

most likely, they will ask for signature prior to service and they are crafty at protecting their investment of time,its a bad idea to not pay a lawyer or pay late and never,ever write one a bad check as in most states if its over 500 dollars its a felony
if you did not get a bankruptcy ruling for protection they can get most of what you owe plus fees acceptable under law. its up to the creditor to prove this money is owed if they are able to do so only under bankruptcy law is it poss able to get out of and even under bankruptcy it may not be dis missed its up to a mediator and/or trustee.

Answer 10

The can collect interest up to the maximum amount allowed by law in your state.