Legal Question in Credit and Debt Law in Missouri

On 3/11/08 I went to court to settle an outstanding debt. It was agreed I would pay 75.00/mo. to Kramer & Frank, p.c. (K&F) re: palisades collection with a balance of 2184.68 + 9% interest annually.

I made 3 pymts and then recvd. a letter from (K&F) on 6/5/08 stating they are returning my last check because their client has closed this acct. with them. (K&F) gave me a ph.# to call their client to make pymt. arrangements. The ph.# had no info that I could use at all. No live person, no address to send pymt. and no message ctr. On 11/17/10 I recvd. a letter again from (K&F) stating they have my acct. again and that I now owe 2709.73 + interest. My question is am I going to be required to pay these additional fees + interest. I do have all original letters and paperwork regarding this acct.

Sincerely, [email protected]


Asked on 1/12/11, 7:29 pm

1 Answer from Attorneys
Anthony Smith LawSmith

Based upon the facts you described, it appears that the principal amount of the debt in 2008, accured several years of interest by the time you got the recent letter. Unless you actually paid during that time, there are few if any gournd to say that interest did not continue. As their cleint did apparently nothing during that time, they will likely be willing to take less.

Good luck

Read more
Answered on 1/21/11, 10:50 am


Related Questions & Answers

More Credit, Debt and Collections Law questions and answers in Missouri