How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Roger Your Own Question
Roger
Roger, Attorney
Category: Business Law
Satisfied Customers: 31022
Experience:  BV Rated by Martindale-Hubbell; SuperLawyer rating by Thompson-Reuters
6704987
Type Your Business Law Question Here...
Roger is online now
A new question is answered every 9 seconds

IVE BEEN PAYING ON A JUDGEMENT ($10,000) FOR THE PAST 7 YEARS.

Resolved Question:

I'VE BEEN PAYING ON A JUDGEMENT ($10,000) FOR THE PAST 7 YEARS. WITHIN THE PAST 3 MONTHS OR SO, THE COMPANY I WAS PAYING MY DEBT TO HAS TRANSFERRED MY ACCOUNT TO ANOTHER FINANCE COMPANY. CURRENTLY I'M (1)MONTH DEFAULT ON MY PAYMENTS OF $100.00 A MONTH AND A BALANCE OF $400.00 LEFT ON MY JUDGEMENT. THIS NEW COMPANY STATES THAT "THEY HAVE THE RIGHT TO CHARGE ME INTEREST ON THE $10,000 BALANCE FROM 7 YEARS AGO BECAUSE THE OLD COMPANY DID NOT HAVE THE RIGHT TOOLS IN PLACE TO CONDUCT BUSINESS THE RIGHT WAY. CAN THEY DO THIS?
Submitted: 7 years ago.
Category: Business Law
Expert:  Roger replied 7 years ago.
The company has a right to collect all payments and interest due under the judgment. If the new creditor can prove the amount due, it can collect. However, you have a right to demand an accounting and force the creditor to prove its claim.
Roger and 6 other Business Law Specialists are ready to help you

Related Business Law Questions