Re: Let me clarify

Posted by Why Chat (209.240.205.61) on May 25, 2004 at 20:57:48:

In Reply to: Let me clarify posted by PleaseHelp on May 25, 2004 at 20:27:10:

The CA can CHARGE whatever he wants to-- however, if he were ABLE to file suit against you and won and got a judgment, the maximum allowable interest that could be added to the original chargeoff amount is 5% a year.

If you are within SOL, and assuming you were a Mich rsident when you applied for the credit and when you defaulted, I suggest you lay low and not respond to any calls, letters or entries on your credit reports in any way.

Once you are safely past SOL, you can send the SOL letter and dispute the accounts off your reports.

I do suggest you Opt Out.

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