Legal Question in Credit and Debt Law in Massachusetts
paying off a credit card debt
In 2003 I was summoned to court for not paying my credit card. The credit co won and I was ordered to pay back 1835.00. I couldnt afford to pay so another court date was set. The next court date the judge agreed to allow me to pay back $25.00 per month. The card was charged off in 2000. until tthe 1885.35 was paid. I have paid faithfully for 5 years. Now the credit co. is saying I had to pay interest of $1100.00 on top of the ordered amount. Can they do that? After the judge made the ruling of 1885.35.
3 Answers from Attorneys
Re: paying off a credit card debt
Jugments in Massachusetts carry a 12 percent per year interest rate set by the legislature.
Re: paying off a credit card debt
Generally, interest runs at 12% on the unpaid balance of a judgment pursuant to Massachusetts law. However, the answer to your question would depend upon the specific order of the court.
Re: paying off a credit card debt
Massachusetts judgments carry interest at a rate of 12%. However - I would have an attorney take a quick look at this. Credit card companies/debt collectors are using very aggressive and sometimes unethical methods in this tough economy.
I have discharged numerous debts for clients in the past year because of sloppy and unethical collection tactics.
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