Legal Question in Credit and Debt Law in Illinois
Made payments to collection agency/lawyer office for a few months. Total payments made $900.
Recently they put a levy on my bank account and I put $2,332 which they removed to pay the debt.
The debt is for a reposession. I asked the collection representative the total amount to begin with, avoided the question. After the $900 in payments were made, a new amount was sent of $4,475 which was taken to court and the levy placed on my account and that is when they took the $2,332 out. The guy told me to put the money in my account. Then a month later told me that he did not tell me to do that, that I should have sent a money order. He said that I waited too long to call and the amount they took, (2,332) is not the percentage their "client" will settle for. They want 70% (another guy told me 80%). So they are telling me that I now owe them $1060 which would settle the debt. He said that my account is racking up 9% interest.
So I want to know why I cannot settle this. I've given them a little over $3,000. I just want this settled.
1 Answer from Attorneys
The problem is that you are probably talking to different people. Get a firm commitment of how much they want to settle the matter in a lump sum. And yes, if they have a judgment, it is accruing 9% interest, by law.
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