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Hi Everyone,
Need some assistance on dealing with an unsecured personal loan I received in 7/2007 for 3500. It was through Quick Click Loans. My DOFD was 1/2008. Currently, they are the OC and are posting on one of my CR.
I am trying to resolve this account however the interest rate was at 56% (I know its bad!! I cant believe I did it but need to fix it now)
The balance on my CR states $2975 which I have no problem with since I owe it. However, they have been charging interest on it since 1/2008 and my past due balance is $8400. I have tried calling them, and they will not work with me. Ive actually consulted with a consumer law attorney and didnt get much help.
Am I stuck with paying this ridicolous amount of interest?? Im concerned cuz the high interest is building monthly. If I dont pay now they will sue me with even more interest. I can pay the 2975 however can not do the 8400. This is keeping me up at night!!!!!! and putting me back into a debt depression!!!! I cant DV cuz they are the OC
This is still within the SOL. I have a feeling they are trying to get the balance as high as possible and then sue me when it gets closed to the SOL being up.
Though I would reach out in a last ditch effort for any suggestions.
First, I would determine if the interest rate they are charging you is within the legal usory level under your state civil code.
Unpaid debt under a contract agreeent can continue to accrue interest within legal levels.
First, are you prepared to actually go the legal route if need be? I mean you filing a summons on your behalf? Potentially going to court as well? If you are I might be able to help. However, I will need more info about your account.
Yes I am looking into taking them to court. I live in Georgia and have looked into the usury laws. From what I can tell from the law, they may be in compliance with the laws. The law does not seem to favor the consumer at all.
I would welcome any help as I have been seeking some attorneys to help in this case but havent been successful yet in obtaining one.
Sorry I don't help Georgia Bulldogs You'll have to wear a RazorBack t-shirt during this process. Just kidding. Check your pm's we'll discuss this through email.