Re: Original Creditors amount of debt vs collections amount

Posted by JKelly (151.197.123.138) on July 08, 2004 at 18:37:26:

In Reply to: Re: Original Creditors amount of debt vs collections amount posted by julie on July 08, 2004 at 17:13:51:

If they sue, they will sue for the full amount including interest. When I was sued, the plaintiff claimed almost 6K paid for the debt (I think that was bull) but the lawsuit was for almost 10K. They added almost 5K in interest. That was over a period of just under 4 years. There was one debt that went up $100 or so in just a couple of months. I don't know. I was calling around the country, trying to make sure all of my debts were included in my bk, and this one debt showed 9K when I got my credit report and then 10K when I was making the calls. Of course I don't really know how long that interest was accumulating to show the 100 difference. I just remember, the lady telling me, OH NO, it is now 10K. (they weren't exact numbers, of course, but that's the general jest of it). I discharged 75K in bk, but I figure at least half of that was interest which had been added on over the (almost) 4 year time period that I had completely stopped paying anything.

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