Legal Question in Consumer Law in Illinois
paying consumer loan in law suit
I am willing to pay the original amount due and court cost, the other party is insisting that I have to pay all 3 years of interest at 9 % annual and it is thw law(they said they can not give me ant discount on interset rate)
Asked on 7/15/09, 3:52 pm
1 Answer from Attorneys
Lesley Hoenig
Lesley A. Hoenig, Attorney at Law
Re: paying consumer loan in law suit
What exactly is your question and who is suing you? Credit Card? Collection Agency? Lender? If they can prove the debt in court, they don't have to agree to settle. But usually creditors will agree to a lump sum that is less than the total they are going for, but it has to be a lump sum.
Answered on 7/15/09, 4:13 pm
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