Re: Updates on my case - more questions

Posted by LadynRed (68.52.127.174) on July 03, 2004 at 10:20:01:

In Reply to: Updates on my case - more questions posted by PinkLady on July 02, 2004 at 20:58:54:

This topic has already received lengthy answers on the other forum PinkLady asked this question on.

While the FDCPA says they can sue in the state where you entered into the agreement or where you live, the fact is, they are suing you in IA and your initial defense should be using IA Statutes and IA SOL. Use your SOL defense in court, you do not have to put it in your Answer. In fact, per the other board, if you don't put it in your Answer you won't be tipping your hand that you even KNOW an SOL exists.

99% of the time these lawyers are NOT expecting any kind of a fight and they are woefully unprepared when defendents show up and fight them.

The interest rate thing depends a lot on what's in the credit card agreement AND IA law. If IA law says that they cannot charge more than 5% interest, regardless of the CC agreement, then the 19% IS illegal. But, if the IA statutes allow the terms of the CC agreement to stand - which usually says their 'assigns' can charge the default interest rate - then they are within their legal rights to charge 19%.

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