Will they still charge interest on the amount owed until it's paid off?
If so, is there a maximum amount of interest they can charge?
2007-10-02 05:51:48 · 7 answers · asked by Anonymous in Business & Finance ➔ Credit
In Tennessee.
2007-10-02 05:54:58 · update #1
Yes, creditors can charge interest on judgments.
http://www.lectlaw.com/files/ban02.htm
Scroll down to find the interest allowed on judgments in your state.
2007-10-02 05:59:23 · answer #1 · answered by Ti 7 · 0⤊ 0⤋
If it's part of the judgment they will and there is a maximum amount of interest dependant upon laws in your area.
2007-10-02 12:58:56 · answer #2 · answered by Lex 7 · 1⤊ 0⤋
Yes and there is a set amount of interest they can
charge it .it's set down by the state.If you had
good credit you don't now.
That's A Wrap
2007-10-02 13:11:26 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Depends what the law is in your state and what the judgement says and if it includes interest. It can. Max is whatever the max in your state is.
2007-10-02 12:55:19 · answer #4 · answered by wizjp 7 · 0⤊ 0⤋
Generally yes they will. The maximum rate is probably set by your state.
2007-10-02 12:54:17 · answer #5 · answered by Judy 7 · 1⤊ 0⤋
The garnishment will be the amount of the judgment. Interest will stops no longer accrue.
2007-10-02 13:12:09 · answer #6 · answered by Anonymous · 0⤊ 2⤋
Yes, this is determined by State law. I have posted a link so you can look up your State. It should also be in your court documents.
http://www.bcsalliance.com/index.html
2007-10-02 12:56:24 · answer #7 · answered by ? 7 · 1⤊ 0⤋