interest questions
Date: Sun, 05/10/2009 - 07:09
have you tried to contact the lender in this case? but yes, in
have you tried to contact the lender in this case? but yes, in ohio they creditor can continue to capitalize interest according to your original contract..i would contact the original creditor involved assuming its with the original creditor...who has the debt..oc or jdb..ca?
A collection agency has the debt now, but they are in-house if t
A collection agency has the debt now, but they are in-house if that matters any. OC charged it off, but when I made the $2000.00 payment to the collector the OC updated their TL showing the new balance. When I tried to contact the OC in March of 08 they told me they didnt own the account any more and to pay the CA. When I recently contacted the OC they told me that the CA is only assigned the debt. I am getting the run around with these people. I even asked the OC what was their charge off amount, and the rep said she didnt want to tell me just in case the balance was wrong.
I would suggest that you check your state debt collection laws i
I would suggest that you check your state debt collection laws in reguards to interest. Depending on the contract you signed or those laws you may still be held responsible for the interest. You should be able to find out how much interest is allowed to be calculated.
charge off does not stop interest accrual, its just an accountin
charge off does not stop interest accrual, its just an accounting term. the only thing that stops interest accrual is if the oc sells the account to another lender=junk debt buyer, collection agency ect. since your account is still with the oc and an internal collection agency, then interest accrual will continue at whatever rate was in your original contract. But i must point out, check the sol in the state..interesting point, was this an auto lease by chance? if so, it is governed by ucc which sol is 4 yrs..also this is in orc...but i don't know if that applies to an auto loan...
It is a auto loan, I live in Ohio so is the sol still 4 years.
It is a auto loan, I live in Ohio so is the sol still 4 years. Would this be considered a written contract? Does the sol re-start once payment is made? I was told that on secured debts like auto loans the sol doesnt restart, but I want to make sure. Sorry for all the questions I just know this company is going to sue me because they sue everyone, and I want to make sure I have all my ducks in a row :)