So how can I beat this?
Date: Mon, 07/23/2007 - 05:18
I know I sent the payment, right before I moved out of state, but of course 6 years later have no way to prove that I did or if it was ever cashed. They kindly offered to let me settle for $500whatever, bless their hearts, but I politely informed them that I would have to decline this extortion on principle - so of course he threatens court action, wage garnishment, etc. Eventually I offered to repay the original amount just to make it go away and all square in their eyes, but no, they want to be greedy.
Do you think they'll really follow through with such a ridiculous claim? Would a judge actually uphold this? or laugh them out of court? Seems like there should be some regulations against this sort of thing. What's my recourse? I'd rather fight and risk losing than allow such an outrageous predatory practice to go unchallenged. But hiring a lawyer could cost more than the claim.
Interest can generally be charged on any balance that remains fr
Interest can generally be charged on any balance that remains from month-to-month outstanding. Supposing you did actually owe that $100, and let's guess the card was about 26% apr ... the monthly interest would be (26%/12*100)= $2.17. Figure 72 months x $2.17 = $156.24. That other $850 they are wanting you to pay must be either late fees and/or collection fees.
LUCKY FOR YOU, this debt is probably past SOL. You would need to look up the SOL for your state, but you will probably find it is in th 3-5 year range. Go here to look up: http://www.fair-debt-collection.com/SOL-by-State.html . If SOL has expired, this means even if they did sue you, you could raise SOL as a defense and the case would be dismissed.
Most companies will not file suit over such a small balance. AND if they threaten you with a lawsuit, while knowing they really aren't going to follow through with a suit, then they are violating fdcpa and you could actually sue them for that. Remember though, if they do file a suit, the judge won't autmoatically toss it -- you would still need to show up in court and raise SOL as a defense. If you don't show to court, they could get their default judgment and then you would have to pay.
You forgot to add in the 30 dollar late fee's until it charged o
You forgot to add in the 30 dollar late fee's until it charged off.
Also, there is a way to find out if your payment was made or not. Contact the creditor.
