Help with "loan Shark"

[wannamortgage]

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.

[RobertEG]

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.

[Anonymous]

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.  

[wannamortgage]

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.

[Anonymous]

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.