judgment? (Re: lawsuit, settlement, CRA questions, interest fees)

Posted by Octamom (205.188.208.41) on August 27, 2003 at 18:29:00:

In Reply to: Re: lawsuit, settlement, CRA questions, interest fees posted by Why Chat on August 27, 2003 at 16:58:35:

The paperwork received in April included a "motion for summary judgment", asking the court to rule in their favor. I have not received any response from the court and certainly no official judgment. I just viewed all three of my credit reports just a couple of weeks ago and there are no judgments. I believe this is still in the process of the court proceedings. The most recent mailing received from the attorney was adding the interest and fees to the requested "summary judgment" amount. Which brings me to these questions...

In the state collection laws for Maine (yes, I am still in the same state), the legal interest rate is 8%. How can they charge me 24%? If this is based on the orginal argreement with Radio Shack, then what is the legal 8% used for?

Also, Radio Shack has already been removed from all three of my credit reports after I disputed the account. If I do happen to settle with the attorney for Capital One (who bought the Radio Shack account), am I correct in stating that information on the account cannot be re-reported to the CRAs since it had already been there and was taken off through dispute? Are there any dangers in settling this account before it goes to court and a judgment is issued? That seems like my best option right now. I just do not want the settlment reported on my credit reports and certainly don't want a judgment.

Since Capital One purchased the Radio Shack account and have now turned it over to an attorney to file the suit, do I have any legal protection against that? I had heard that only the original creditor could bring suit.

Thank you!

Octamom

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