Legal Question in Credit and Debt Law in Maryland
credit issues
Before Christmas, 2001. We paid off some of my wife's credit card bills by transferring balances. One of the accounts paid off was one that had been acquired after a bankruptcy and was cancelled as soon as we received notice of the transfer --interest too high) The amount due was around 800.00 and some change. I wanted to make sure the payment hit. I called them said it hit but we had a credit balance of 1,375.00. I figured it was an overpayment from who transferred the debt to. I made four subsequent phone calls to this creditor and the last time the rep asked me what we wanted to do. I said we want it closed and nothing further to do with it. The rep said they would issue a check and clear the account which is what they did. Now they send a statement saying we owe 1,375.00 PLUS interest and this will go against my wife's credit if we do not pay. .
My question is what recourse does she have is this affects her good credit.
1 Answer from Attorneys
Re: credit issues
You do owe the $1375 - the check was sent in error and you were not owed the money. You should not, however, owe interest (and certainly not interest at credit card rates), provided you repay promptly. They should also not report this to any credit reporting agencies, as it was their mistake. I would suggest calling them and trying to resolve it on the phone. They will probably work it out (although you may need to speak w/ a supervisor).
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