TwoFaced Posted April 27, 2007 Report Share Posted April 27, 2007 So a few years ago, before I started to get educated on collections NCO won a default judgement. It was for 7132 dollars. I didnt know anything about it, never served blah blah blah, wrong venue all that stuff. They called not long after they won and threaten to garnish my wages, which scared the crap outta me since I had just started a new job and was still under a probationary period. So I agreed and paid. At that time I didnt know how much the judgement was for, the guy told me 10,800 with intrest and fees and stuff. So I am looking at my credit report and blam it had popped up on there on the 25th April 2007. It says I owe them 2144 dollars. Well I initially paid them 5000 then maid 10 installments of 500 per the deal with this man on the phone, for a grand total of 10,000. So my question, is how did he get 10,800 from 7131 and why in the heck does it still say I owe 2144. I called them on it, informed them, wrong venue, never served and I think you have over billed me for the amount filed for. 2 days now and no return phone calls....What should I do? Link to comment Share on other sites More sharing options...
kevin3344 Posted April 28, 2007 Report Share Posted April 28, 2007 So my question, is how did he get 10,800 from 7131 and why in the heck does it still say I owe 2144. Probably interest. You could probably have settled this whole thing for $5k and not made any payments. I would call them and tell them you'll settle the $2,144 for $800...get it in writing!! Link to comment Share on other sites More sharing options...
LadynRed Posted April 28, 2007 Report Share Posted April 28, 2007 Every state applies STATUTORY INTEREST to an unpaid judgment, typically between 6 and 10%, though some are higher. In VA it's 9%/yr. So you tack on that 9% of 7,131 for however many years that judgment's been sitting there and you easily can get above 10K. In addition to the original debt amount, they've also added court costs and attorney's fees. It adds up fast. Link to comment Share on other sites More sharing options...
TwoFaced Posted April 29, 2007 Author Report Share Posted April 29, 2007 Thats what I am saying.About a month or two after the judgement they called trying to collect.I wrote a check for 5K then made 10 monthly payments of 500.The debt reported on the judgement was 7131. I paid more than half that within 2 months of the court procedings.VA is 8% btw or at least that is the info I recieved. No way it could have jumped 4k in 2 months. I am saying 2 months because that is worst case. If I remember correct I paid the first 5k within 30 days. I was scared of losing my new job I had just started and I had just recieved my tax refund. Only reason I paid that much. The tickler is, when the guy called to collect, he said you judgement was for 7131 but after intrest and blah blah blah it is 10,800. I am just trying to figure out how they won judgement and 2 months later it is 4k more. I tried getting the info from the court since I never saw the paperwork on the actual judgement, however they said I waited to long to get it and NCO will not return my phone calls. Just sounds fishi3 to me. I personally think I might have gotten screw'd. Link to comment Share on other sites More sharing options...
qtptute Posted April 29, 2007 Report Share Posted April 29, 2007 Every state applies STATUTORY INTEREST to an unpaid judgment, typically between 6 and 10%, though some are higher. In VA it's 9%/yr. So you tack on that 9% of 7,131 for however many years that judgment's been sitting there and you easily can get above 10K. In addition to the original debt amount, they've also added court costs and attorney's fees. It adds up fast.You're wrong LNR - judgment interest rate is 6% from DOJ in VA. Link to comment Share on other sites More sharing options...
momof5 Posted April 30, 2007 Report Share Posted April 30, 2007 QT....May I suggest that you learn to be a tad less hostile and when you 'correct' someone, and that you provide a link showing that you have the accurate data?Arrogance only gets you so far in life. My mother always taught me that you attract more flies with honey than you do vinegar. Link to comment Share on other sites More sharing options...
LadynRed Posted April 30, 2007 Report Share Posted April 30, 2007 You're wrong LNR - judgment interest rate is 6% from DOJ in VA.Well, well.. is this the male or the female of the gtptute duo ?? Whatever, I pulled it off a site that is usually reliable, obviously they are wrong on that one. Since the gtptuteDUO is in VA, .05 points to you . That doesn't change the fact that the interest is there and adds to the judgment.As for 'waiting too long' I find that hard to believe. The court has those records, you'll just have to press a bit harder. Link to comment Share on other sites More sharing options...
littlerebel Posted May 1, 2007 Report Share Posted May 1, 2007 lol. momof5, don't you think your comment should have been addressed to LNR also? I think the Lady is more than capable of standing up for herself. QT is not the only one spraying vinegar around this board. Link to comment Share on other sites More sharing options...
TwoFaced Posted May 1, 2007 Author Report Share Posted May 1, 2007 Thanks for hijacking my thread :S Link to comment Share on other sites More sharing options...
SecretAgentWoman Posted May 1, 2007 Report Share Posted May 1, 2007 I'll rescue you, TwoFaced!!! I think you need to DV, possibly get a lawyer, because they need to provide an accounting for where they get the idea you still owe money. Link to comment Share on other sites More sharing options...
TwoFaced Posted May 2, 2007 Author Report Share Posted May 2, 2007 Muahah SAVED!!!!OK, I am going to try to contact them one more time via phone....will also dv and do a documents request....then a lawyer.....Just bugs me, the sneaky wabbits!ok that was stupid, but its getting late and I need sleep...jajjaP.S. Thanks for the save SAW Link to comment Share on other sites More sharing options...
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