Legal Interest

[SunnySideUp32]

How is interest accrued on charged off debt acquired by JDBs? I know in California, the rate is 10%. But when they buy the bad debts, it already has late fees included. So, when the JDB makes the purchase, they are just getting the total amount, not necessarily which part are actual purchases and which parts are late fees. So, does that matter on how they add interest? I guess the better way to ask is, can JDBs charge interest on the portion of the bad debt that was strictly late fees?

 

On a different topic, I see posts that has emoticons. How do I add them in my posts?

[SunnySideUp32]

Another question.

 

If a debt is past SOL, can I tell the JDB to end all communication and not to pull my credit report again since they have no legal way to force me to pay the debt? Again, this is specifically for accounts that are long past SOL.

[Sandscrit]

How is interest accrued on charged off debt acquired by JDBs? I know in California, the rate is 10%. But when they buy the bad debts, it already has late fees included. So, when the JDB makes the purchase, they are just getting the total amount, not necessarily which part are actual purchases and which parts are late fees. So, does that matter on how they add interest? I guess the better way to ask is, can JDBs charge interest on the portion of the bad debt that was strictly late fees?

 

On a different topic, I see posts that has emoticons. How do I add them in my posts?

Any agreements that allow the OC to continue to collect interest and or late fees apply to the JDB unless proven otherwise in court.

[Sandscrit]

Another question.

 

If a debt is past SOL, can I tell the JDB to end all communication and not to pull my credit report again since they have no legal way to force me to pay the debt? Again, this is specifically for accounts that are long past SOL.

Send them a FOAD letter if you are sure the debt is past the SOL. They can continue to post a negative tradeline for up to 7.5 years beginning with the date of last activity. The One -Two Punch may help delete the negative tradeline

[SunnySideUp32]

 

Another question.

If a debt is past SOL, can I tell the JDB to end all communication and not to pull my credit report again since they have no legal way to force me to pay the debt? Again, this is specifically for accounts that are long past SOL.

Send them a FOAD letter if you are sure the debt is past the SOL. They can continue to post a negative tradeline for up to 7.5 years beginning with the date of last activity. The One -Two Punch may help delete the negative tradeline

Thanks for the info. Also, what is a one-two punch and are there some samples available to get an idea what I'm suppose to do. Yes, I'm sure I'm past SOL which is 4 years in California. I'm in the home stretch with the remaining baddies falling off by the end of this year and beginning of 2014. I'm trying to get rid of them early.

[Rebuilding2010]

Search 1-2 punch explained. I think it summarized it pretty well.