Legal Question in Credit and Debt Law in Georgia

10/02/12 entered into title pawn and that day paid interest 536.82 scheduled payment date was11/01/12.before the scheduled date I returned on 10/06/12 made a 500 payment it was applied to interest I returned 26 days later and before 30 days made another payment 500.00 it was paid to interest; 29 days before 30 days I made another payment it was paid to interest. Each payment was before the statutory 30 days (44-12-131(a)(4)(A) for which interest can be charged. Section 44-12-131(b) " Any interest...... received... in excess of the amounts permitted under subsection (a) of this code section shall be uncollectable and the pawn transaction shall be void."My question is, this mean that I could not be charged interest each time that I made a payment before 30 days and, if so, is the entire pawn trasaction single contract voided and i pay no more and keep the vehicle?

Asked on 3/10/13, 9:07 am

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Your post is not a model of clarity. The transaction must be evidenced by a contract. Any attorney would need to see the documents that you signed.

Answered on 3/11/13, 12:54 am

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