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CA may not collect any amount greater than your debt


smurfette in nyc
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Well, I found that info on this site, #14:

http://www.privacyrights.org/fs/fs27a-debt_collection.htm

Then, I found this info for my home state. I'm in shock about 16% interest!:shock:

STATE: NEW YORK

INTEREST RATE

Legal: 16%

Judgment: 9%

STATUTE OF LIMITATIONS (IN YEARS)

Open Acct.: 6

Written Contract: 6

Domestic Judgment: 20 (1 0 yr. renewable lien)

Foreign Judgment: 20 (1 0 yr. renewable lien)

BAD CHECK LAWS (CIVIL PENALTY)

Face value of check plus two times check amount up to a maximum of $400 on NSF or $750 on "no account" (Demand prescribed by law). GEN.OB.1.1-104

GENERAL GARNISHMENT EXEMPTIONS

90% of earnings, except 1st $127.50 wk. wholly exempt.

COLLECTION AGENCY BOND & LICENSE

Bond: No

License: No

Fee: No

Buffalo: $5,000 Bond - $50 fee

NYC: License - $150 - 2 yr. fee

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Well, I found that info on this site, #14:

http://www.privacyrights.org/fs/fs27a-debt_collection.htm

OK -

THIS is the actual question, and it's a little different than what you posted.

14. A debt collector says I owe fees that are almost as much as the original debt. Is this allowed?

(emphasis mine)

The way I read it with the way you worded your original post led me to believe "any amount greater than your debt" meant just that - any amount total greater than the debt.

The question is referring to interest and collection costs - which are based on State Usury interest limits, I do believe.

EDIT: I realize that's what you posted, but the thread title misled me a little bit - sry

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