Legal Question in Business Law in Indiana
old debt owed
I have a old debt from a past vendor. Can they sue for original balance plus the interest the have added on or just the original balance?
Asked on 4/09/09, 7:06 pm
2 Answers from Attorneys
Burton Padove
Indiana and Illinois Lawyer, Burton A. Padove
Re: old debt owed
That would depend on your written agreement.
Answered on 4/09/09, 9:45 pm
Samuel Hasler
Samuel Hasler
Re: old debt owed
They can sue for prejudgment interest or they can sue for the interest that is on the contract. If the contract has nothing about interest, then prejudgment interest only.
Answered on 4/10/09, 12:41 pm
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