Legal Question in Credit and Debt Law in Tennessee

Please state the specifics of your actual situation.

I think you may be guessing wrong about where to find the law that applies to your facts.

"Fair Debt Collection Practices Act" tends to cover issues of how debts are collected more than issues ofwhence they arose. Each state has laws that apply to interest charges.

State laws for example can allow for interest to be charged post-judgment (when a debt is determined by a court) which do not require the debtor's "acknowledgment" and similarly may allow for pre-judgment interest -- a normal rate (e.g., 12%to be calculated for a long-standing debtstarting at the time it was incurred and up to the time the judge 'acknowledges' (confirmsby his judgment order) the debt, which the judge would award at the time he makes hisdecision; this all of course applies only to cases brought to suit.

I don't know whether your state would allow a creditorto start charging interest without a separateagreement from you. It's possible but it seems to me unlikely.

However, if you bought something "on time" (in a finance arrangement) and you didn't sign an agreementfor that, the seller very well may not get any interestpayments out of you; such sales are pretty well coveredunder state law, usually their commercial code sectionknown more vaguely as "UCC" (Uniform Commercial Code).

Sorry I can't help more. Someone else may give you better answers.

I suggest you ask again but with your specific facts, just telling the story and not asking any questions.I bet you'll get more helpful information.

This message is provided to assist you in structuring your thoughts when you speak with an attorney about your situation. I am not your attorney, and you are not my client, so this is not legal advice. Legal advice can only be given after a careful interview of the client by the attorney, and I have not had the opportunity to understand the significant issues that I must understand to render legal advice. You should contact an attorney in your state to discuss your situation. That attorney can give you the advice that your situation deserves, after carefully considering the issues that are legally significant in your situation.