Legal Question in Family Law in California

Hello,

I currently owe around $7500.00 in arrears which I am making monthly payments to in California. Are they allowed to only apply these payments to the principal? My principal goes down but my interest continues to go up. Seems to be a double edged sword. Also if I were to pay off the arrears principal, about $5000.00 and only have the interest amount left to pay, can they charge me interest on this interest?

Thanks,

JD


Asked on 3/25/10, 2:12 pm

1 Answer from Attorneys
James Chau Law Offices James Chau

Interest will accrue at 10% the legal rate for arrears. If you want to reduce interest then you need to pay off the principal of $5,000. You should start making larger payments than the monthly payment to reduce the principal so the debt is under control.

Good luck.

For self represented individuals you can consult with the family law facilitator self help center at your local court house.

As always please consult a local attorney prior to taking legal action. Good luck. Also please check out my Santa Clara County Family Lawyer blog.

Law Offices James Chau

1625 The Alameda Suite 204

San Jose, CA. 95126

http://www.jameschaulaw.com/

http://sanjosefamilylawyer.blogspot.com/

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Answered on 3/30/10, 6:51 pm


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