Re: Is this even legal?
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Posted by Why Chat (209.240.205.61) on May 25, 2004 at 19:21:46:
In Reply to: Is this even legal? posted by PleaseHelp on May 25, 2004 at 19:07:35:
The legal interest rate a collection agency can charge in Mich. is 5%. If they are outside of Mich. they may not be authorized to collect from you at all. If the debt is over 6 years old, (counting from 6 months BEFORE it was charged off)you are beyond the legal time the debt can be collected on in Mich.
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