Legal Question in Credit and Debt Law in Massachusetts
we have Chase credit card taking us to civil court, whereas we did get a credit card and did use it ..we fell on hard times and the minimun payment went unpaid for a few months..the interest rate jumped to over 29% and the minimun payment was almost 2,000.00 we could not pay this so we tried to offer a solution , many times, wavie the interest just until we got caught up with the payment then add a resonable interest rate, they said NO, they we so relentless in the phone calls and not working with us they made us feel so awful, and less than a louse. So we stopped answering the phone calls, now they are taking us to court, the 'lawyers' are sending us all kind of paperwork for answers to so many questions, "requests for admissions" request for production of documents',1st series of plaintiffs interrogatories to defendand and want written answers to each question signed under p-p within the timeframe set by civil procedure ..( which I do not know) do we have to fill out all this paper work ..there are over 100 questions and they want answers to them all ..and then statements on when we first got the card, provide them wilth a detailed list of the goods and services we used the card for, and then the canceled checks and all of the payments made, front and back copies and add all the payments up , they want all the statements they sent us , and the amounts we sent in response to each statement ..this is crazy , I do not know when I opened the accoutn the exact date, and to when the first purchase was..and all the payments etc. is this something we HAVE to provide them with , they want everything signed and sworn, within the 'timeframe' ..please help, I want to go to the court and tell them the way we have been treated by these people and the scare tactics they have used, calling us deadbeats, louses, wanted to live off the system etc. we are just a working family and trying to make ends meet in this uncertain world..PLEASE HELP !! [email protected] the amount is half interest that they are now claiming.
Jacqui Medas
1 Answer from Attorneys
Generally speaking, yes, you do need to answer the other party's discovery requests. It seems to me that one way for you to get around that would be to talk to the lawyer for Chase, and enter into an agreement for judgment - which would end the current litigation that is designed to decide your liability, and this would get you to the point where you would / could discuss settlement or a payment plan.
The reason I suggest that you enter into an agreement for judgment is because you admit liability in your question. You had the card, and fell behind. Most credit card contracts explain in great detail what happens if you miss or make late payments, and that almost always involves the interest rate increasing, and the full amount owed becoming due immediately. So while it may seem frustrating, it was likely legitimate contractually. There is also, generally speaking, nothing in a credit card contract that requires them to "freeze the interest" because you've fallen on hard times.
Other than not having to answer discovery requests, other added benefits of entering into an agreement for judgment is that a) at this stage usually these firms will waive the attorneys fees they may request if the matter gets to trial and b) the statutory post-judgment interest rate in MA is 12% per year, so that saves you approximately 17% (you said your interest was over 29%).
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