2007-12-02 12:08:52 · 6 answers · asked by Anonymous in Business & Finance ➔ Personal Finance
read the find print and you will see the answer is yes!!!
2007-12-06 08:04:30 · answer #1 · answered by Anonymous · 0⤊ 0⤋
You can be charge interest on an outstanding balance.
Most credit agreements have in the terms.
Interest shall become payable on any outstanding blance from the date due until judgement.
This mean interest stops once you have a ccj.
However this is not the case for comercial debts as those terms allow for interest to be added under
"none payment of commercail debts act"
Interest will acru on a daily basis from due date until payment.
If you speak to the creditor and explain you are having financial problems and agree to pay by installments they may be willing to freeze any future interest
2007-12-02 12:16:04 · answer #2 · answered by davetumalty 4 · 1⤊ 0⤋
Technically yes, it all depends on the wording within the document, but as a general rule of thumb people are not charged interest.
2007-12-03 04:45:01 · answer #3 · answered by Dimples 4 · 0⤊ 0⤋
Yes - Statutory Interest is 8%.
2007-12-02 18:22:07 · answer #4 · answered by Steve B 7 · 0⤊ 0⤋
not "interest", but if you fail to make regular payments you may be in breach of the judgement and the court my issue a further judgement which will include additional fees .
2007-12-02 12:15:08 · answer #5 · answered by ken M 2 · 0⤊ 0⤋
Prior to the judgement being entered yes , but not after the judgement has been entered.
2007-12-02 18:14:28 · answer #6 · answered by Anonymous · 0⤊ 0⤋