Legal Question in Credit and Debt Law in Iowa

Past Due/Collections Question

We purchased a high end swing set approximately 3.5yrs ago for about $1500.00. Just recently the company that we had purchased them from advised that they have no record of the purchase. They are now requesting payment in full within 10days or they will charge the full amount plus back interest since the date of purchase. Also, this is the first notice that we have received. Is this legal in any way???


Asked on 1/12/09, 10:14 pm

1 Answer from Attorneys
Thomas Moens Moens Law Offices, Chartered

Re: Past Due/Collections Question

If they have no record of the purchase, then how do they know you purchased it? Though it is a bit strange to wait three years, there is nothing "illegal" about trying to collect a debt--depending on the circumstance, the statute of limitations would be either five or ten years. Whether they can charge interest depends on whether there was a written agreement.

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Answered on 1/13/09, 9:46 am


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