Legal Question in Credit and Debt Law in California
I have a credit card debrt that went to collection. I have spoken with the collection compnay and received the following letter of forbearance.
In accordance with your recent agreement with XXX, inc. regarding stipulating to judgement is entered, we will not seek to execute upon the entered judgement as long as defendant, shall fully and timely make the following payments: $400 on or before date and $100 per month on or before the 25th day of each consecutive month thereafter and continuing until the full amount of the judgement, together with post-judgement legal interest of 10% on the unpaid balance, has been paid.
The judgement sum of $10,905 principal, $4,296 interest, $2,294 attorney fees and $775 costs of suit, for a total of $18,272.
Can the collection agency add al these fees to the balance? I simply want to pay off as soon as possible.
1 Answer from Attorneys
It depends what is stated in your agreement. It sounds as if you agreed not only to pay the principal and interest, but attorneys' fees and costs of suit, as well.
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