Legal Question in Credit and Debt Law in Texas

Interest on beauty school

Hi....I owe $1595.00 in 2001 on my beauty school loan. Now, 2006...they say I owe $2465.00 due to interest. Can they charge that much interest? I haven't received a bill or a balance when I ask for it. I am paying $200.00 a month a still they won't send a balance. What should I do?


Asked on 12/15/06, 3:09 pm

1 Answer from Attorneys
James Grissom Law Office of James P. Grissom

Re: Interest on beauty school

Look at the contract. It should state the rate of interest. If it doesn't then you have a case. Put your request for statement of account in writing and send it certified mail. See if that gets a response. If not tell them you are going to make your payments to escrow until you receive your statement.

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Answered on 12/15/06, 3:37 pm


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