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Can they really? I got a letter from LVNV Funding LTD. (FMA Alliance, LTD) how many names do you need to have, anyways the letter says they're charging me interest on the amount that is due and if I want to dispute it bla bla bla..

Posted: Thu May 17, 2007 2:42 am Subject:

I believe they can charge interest based on the terms of the original agreement, provided they have a license to charge interest.

Posted: Thu May 17, 2007 2:44 am Subject:

We'll they're getting a DV letter too then...I can't believe these companies can do these crazy things, buy old debt and charge interest on it, just outrageous.

guest · Posted: Thu May 17, 2007 7:37 am Subject: Interest !!!!!

I too have a debt with Weltman,weinberg & Rise the law firm for LVNV.I wasn't aware of interest.I only
noticed that the total amount of Monthly pyments I was making was not being applied to the balance.When I called them they stated they could charge interest
as the same amount from the orginal debt.I have sent a DV letter registered this week(My second letter).

Also when reviewing the last date of activity it has the date when they bought it from the orginal company.This is not the date of when I last had activity (payment).My debt is SOL and when they use the date of activity of when "they" bought the debt it puts 2011 as the date to be removed from my credit reports.instead of the actual date of my last ativity 2001.I'am getting a lawyer....These people are the Evil or Very Mad

pits !!!!!!!!

Posted: Thu May 17, 2007 8:16 am Subject:

Collectors are allowed to charge interest if the original contract/agreement has these terms spelled out in the agreement. They must also have a license to add interest in some cases.Guest that has made payment,you may have shot yourself in the foot. By making payment on the account,you have most probably reset the sol for both reporting & civil action.Please get an attorney to check your individual state statute for the requirements of reaging a debt/reaffirm.

Posted: Thu May 17, 2007 9:01 am Subject: debt

Once again Cajunbulldog is right. Once you do anything to acknowledge that you owe the money the SOL becomes retroactive from that date and you are pretty much SOL (other meaning)