Legal Question in Credit and Debt Law in Virginia

i had gotten a School loan from Genesis Lending.

A month after going I changed my mind and came home.

Took a while to find a job but I found one.

I can't pay the 200 a month like they want but I called and the guy told me I could pay 35.00 a month to stop late fees and interest fees.

I had him repeat this at least 10 times, I said it to him and he said that's right.

So for the past 3 months I've been paying 35.00 a month to them. I check my loan statement today online. After each payment of 35.00 I've been charged a 25.00 late fee and almsot every day a 1.38 interest fee!

This doesn't feel right at all. I understand that I have to pay them back because I did borrow the money. But are they really allowed to lie like that? Or should I contact an Attorney? What they did feels very unethical and illegal. No way they're allowed to lie about that.


Asked on 9/29/10, 10:10 pm

1 Answer from Attorneys
Michael Hendrickson Law Office Michael E. Hendrickson

Call the SOB back and tell him what's occurred and that you want it in

writing before you can assure that payments will continue. (Hopefully, you at least got his name.)

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Answered on 10/05/10, 4:54 am


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