QUESTION
If you have a loan that has gone into default and you paid the amount that you are sued for, can the plaintiff then sue you again for expired interest
Asked on Jul 12th, 2013 on Bankruptcy - Arizona
3 ANSWERS
General Law Attorney serving Cherry Hill, NJ
at
Mark S. Cherry, Attorney at Law, PC
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The lender can sue for any amounts due including interest but is capped at the judgment amount plus post judge interest at statutory rates.
Answered on Jul 15th, 2013 at 1:14 AM
Debt Collection Attorney serving Chicago, IL
Partner at
Edelman, Combs, Latturner & Goodwin, LLC
2 Awards
1. If a judgment was entered, the amount of the judgment (plus court costs and statutory interest on the judgment and any award of attorney's fees) is conclusive of the amount you owed, under the doctrine of "res judicata." 2. If a judgment was not entered, it is likely that the Fair Debt Collection Practices Act was violated by one or the other statement of the debt (either the first statement is incorrect, or the second statement includes interest which is not owed or was waived).
Answered on Jul 15th, 2013 at 1:14 AM
Bankruptcy Attorney serving Phoenix, AZ
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Law Office of D. L. Drain, P.A.
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Probably, but it depends on the law of the state where you live and the type of debt and age of that debt.
Answered on Jul 14th, 2013 at 9:39 PM