Share post
member profile picture

how can i find out if a CA can collect any interest? DV them for all the original loan docs?

Settlements...would a CA ever settle for a flat amount to be paid over time and not in one lump sum?

Thanks!




You would need to refer to your state laws about the interest. As far as settling for a certain amount with a payment plan in place, I've never had such luck, in my case they have always wanted a lump sum. Keep checking back, I'm sure someone else will be along to advise you. :)

Sub: #1 posted on Sun, 08/31/2008 - 20:53

Shazzers Shazzers
Moderators Cum Industry Expert
(Posts: 17345 | Credits: )

What state do you live in? Is this a credit card debt? Who is the OC?

Sub: #2 posted on Sun, 08/31/2008 - 21:16

NASCAR_Devil NASCAR_Devil
Moderators Cum Industry Expert
(Posts: 4671 | Credits: )

Hi Nascar,

I live in Pennsylvania...this was a private loan from a local bank that was for college and then went to Brazos and then sold or transferred to MRS.

I really tried to work with Brazos...i just could not swing the full $500 or so they wanted.

Sub: #3 posted on Mon, 09/01/2008 - 08:28

Unregistered


You better send a debt validation letter to MRS, they are NOT a very reputable CA, and sneakier than a snake in the grass!

Sub: #4 posted on Mon, 09/01/2008 - 09:36

Shazzers Shazzers
Moderators Cum Industry Expert
(Posts: 17345 | Credits: )

They can charge no more than the interest set forth in the original loan agreement so, yes they can charge interest. Do a s Shazzers stated, DV MRS, but question anything and everything they send you.

Sub: #5 posted on Mon, 09/01/2008 - 12:50

NASCAR_Devil NASCAR_Devil
Moderators Cum Industry Expert
(Posts: 4671 | Credits: )

Well, even if they can't provide the contract, they can still charge the state limit on interest, not sure what it is for that state. The above suggestions are great and you should do so immediately...even if you know you owe, it is your right to DV for the simple fact that too many disreputable CAs and JDBs will try to tack on fees and interest they are not legally able to, just because most people don't realize this or that get intimidated by the CAs.

Sub: #6 posted on Mon, 09/01/2008 - 16:59

goldenbast goldenbast
Moderators Cum Industry Expert
(Posts: 2885 | Credits: )

Attachment
More information
  • Files must be less than 500 MB.
  • Allowed file types: txt pdf jpg jpeg png.


Page loaded in 0.794 seconds.