Some debt just extras.
Date: Thu, 06/22/2006 - 11:30
I find it strange everyone stresses the debt is owed. I find that a lot of debt is not what is owed, but the added fees, services, charges and strange one year contracts that have a few days before and/or a few days after that add another months fee. The true debt is one thing. The collections for that last month or that $40 one day late fee are the ones I tell them to sue for. No one has yet. And it takes one letter cc to the three credit places to get it off a credit report. I also find telling them ahead of time only seems to speed up their collection processes.
If a principal amount is borrowed, it is added with interest cha
If a principal amount is borrowed, it is added with interest charges and late payment fees governed by the state laws. You are obliged to pay only the total amount fixed as per the state regulations. The lenders try to give it a different shape but you must be aware of your legal rights. Use your state laws as a legal protection in fighting back with such companies.
