|
|
Cap One Attorney ripping us? Why Chat,any one?
[ Follow Ups ] [ Post Followup ] [ Credit Forum Index ]
Posted by deluxejo
(63.155.232.224) on June 26, 2003 at 18:21:19:
Went to court in Dec.2002 on a Cap one balance. We sent an answer letter with a settlement offer. The magistrate allowed Cap One collection Attorney to negotiate by phone. They wanted the balance of $ 3,282.32 + 22.40 % per annum. We settled on $150.00 a month payments + 10% per annum and $85.00 court cost. Payments started Jan. 2003. We have paid the court cost and $815.00 on the balance. Weve paid 6 months of payments,which brought the balance down to $2467.32 ,right? Nope wrong! They sent me a letter stating that the balance as of June 2003 is $2,834.32. They added on $367.00 in interest already. Now I believe that 10% 0f $3,282.32 per annum is $328.00,right? I called the office and she said they are charging interest by the week(not our fault she said just how the computer does it!!) She said as of now for the balance of $2,834.32 they are charging 5.46 interest a week! It looks to me like they are ripping us and getting almost the 22.40 % they wanted in the first place. I told her exactly that and she said(you just dont understand. I told her 10% Per annum of the origional balance was $328.00 And they have charged over that already in 6 months. She told me to talk to an accountant and I would see that she is right. Getting ripped?
Follow Ups:
Post a Followup
|
