- Report: #258721
Complaint Review: P. Scott Lowery - Denver Colorado
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Author Confirmed
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P. Scott Lowery
4500 Cherry Chreek Drive South Suite 700 Denver, 80246 Colorado, U.S.A.
Phone:
409-218-7550
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P. Scott Lowery purchased account from MBNA charging consumer 14%interest on account. Denver Colorado
In February 2003. my MBNA account was written off as a bad debt. In an attempt to continue to pay on the account I was informed by a representive of MBNA that they no longer had the account. At that time the account was seriously past due. I was a business owner and the business was unsuccessful. Only one income was coming in for about six months. I was later contacted by P.Scott Lowery law firm and was told they would be collecting on the account. I set up payment arrangements with them.
The earliest date I have on record was 2-12-04. Persons whom I delt with were Tiffany Webber, Mr. Flemings, Mr. Oliver, Mr. Hooks, Amanda and Devon Fitch I requested that Tiffany Webber and Amanda not contact me anymore due to their rudeness over the phone. They both continued to call until I was able to speak with a supervisior.
I have been making monthly payments of $50-100 a month since that time and three years later my balance is around $5,000 more.
After a representive called my home, she managed to get my cell number from my daughter. She called me on my cell phone which angered me. I was asked by this individual if I wanted to settle my account. I have kept copies of the letters that the frim has sent me but none of the letters have a balance due. I preceeded to ask her what was the balance and it occured to me tht the balancing is increasing instead of decreasing. I was told by a representive on 7-3-07 that the account was acruding interest at 14%. Is this legal? Please give me any legal advice you can.
Tina
Houston, Texas
U.S.A.
The earliest date I have on record was 2-12-04. Persons whom I delt with were Tiffany Webber, Mr. Flemings, Mr. Oliver, Mr. Hooks, Amanda and Devon Fitch I requested that Tiffany Webber and Amanda not contact me anymore due to their rudeness over the phone. They both continued to call until I was able to speak with a supervisior.
I have been making monthly payments of $50-100 a month since that time and three years later my balance is around $5,000 more.
After a representive called my home, she managed to get my cell number from my daughter. She called me on my cell phone which angered me. I was asked by this individual if I wanted to settle my account. I have kept copies of the letters that the frim has sent me but none of the letters have a balance due. I preceeded to ask her what was the balance and it occured to me tht the balancing is increasing instead of decreasing. I was told by a representive on 7-3-07 that the account was acruding interest at 14%. Is this legal? Please give me any legal advice you can.
Tina
Houston, Texas
U.S.A.
2 Updates & Rebuttals
Steve
Bradenton,Florida,
U.S.A.
Don, "post charge off" interest of 14%-20% is ILLEGAL!
#2Consumer Suggestion
Fri, July 06, 2007
Don, Post charge off interest is regulated by both state and federal laws. At last I checked the federal law only allowed 8% interest, and some states restrict it to around 6%. Any collection agency charging interest as stated by the OP on a post charge off debt is breaking the law. Only the amount that was in default including interest and fees at time of charge off can be collected without approval of the court. Been there. Done that.
Don
Belleville,Illinois,
U.S.A.
Adding interest
#3Consumer Suggestion
Thu, July 05, 2007
A collector can legally add interest to a debt if state law allows this, and the cardholder agreement allows it. A collector can not add interest at their whim, only if you agreed to it in the past (like when you signed the card). As for the interest rate, 14% seems fairly low. As a collector, I routinely see them at 20% or more.
