Legal Question in Credit and Debt Law in New Jersey

excessive interest

can they charge finance charges greater than what you actually owed. i am trying to get my bills paid. i know i have ignored them because i was not financially able. i don't want to file bankruptcy. this bill at most i owed 1200.00. it now is 4700.00. i have already paid 1100.00.


Asked on 12/29/06, 10:38 am

1 Answer from Attorneys
Jef Henninger, Esq Law Offices of Jef Henninger, Esq.

Re: excessive interest

Only if it was part of the original contract. Otherwise they can't. This is a tough situation because you owe so little it may not be worth it to get an attorney. I'll let you make that call. Otherwise, I would read up on the Fair Debt Collection Practices Act and some other sites on the Net to see what you can teach yourself.

My initial consultations are always free, so call me at 732/247/3340 to discuss your case.

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Answered on 12/29/06, 11:05 am


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