Legal Question in Credit and Debt Law in Indiana
A medical co. has filed suite after not hearing from them for 9 yrs. just didnt remember it . 1211.00 .. now we have to pay it with 8% interest, for 9 yrs time , which comes to another 1000.00. heard something about 7 yrs. is past.& is it legal to not contact someone for that long, purposely incurring lots of interest. sincerely, ms. g
Asked on 3/08/11, 6:05 am
1 Answer from Attorneys
First of all, you are assuming that they purposely accumulated the interest. Second of all you owe the money if the staute of limitation has not passed. Although, you might be able to assert the doctrine of laches
Answered on 3/08/11, 10:29 pm
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