Home
Public Forum
Credit Reports
Apply For Cards
Credit Directory
Credit Overview
Credit Problems
Credit News
International
Credit Glossary
Purchase Books
Credit Laws
Business Credit
Merchant Accts
   

Re: Interest is illegal


[ Follow Ups ] [ Post Followup ] [ Credit Forum Index ]

Posted by glitter (24.21.88.161) on January 14, 2004 at 11:35:31:

In Reply to: Re: Interest is illegal posted by John on January 13, 2004 at 16:11:32:

"as permitted by law" is an important line. My state laws allow a CA to charge 12% interest even "in absence of agreement of other rate" Which apparently means if my agreement doesn't mention a "rate" and then it goes to collections the CA can add 12% interest. It sucks. I fought against it on four different accounts. And then when I complained to the AG she told me they could do it and gave me the state law that gave them the right.....


Follow Ups:



Post a Followup

Name:
E-Mail:

Subject:

Comments:

Optional Link URL:
Link Title:


[ Follow Ups ]   [ Post Followup ]   [ Credit Forum Index ]

 

    Top Of Page

  

Copyright © 1999-2004 Enkephalos Web Design