OK- so my fingers started typing before my brain was in gear-- I take back SOME of what I said, (except the part about being liable if you were sued). The point is, you probably are beyond the SOL for any credit card debts to multinational, avaricious, politician bribing creditors and their scummy bottom feeding collection agencies, so-- instead of "settling" with any of THEM, pay off the personal debts, with FULL payment of what is asked, (perhaps HE is now fallen on hard times and needs the $$), and forget about paying the "greedy-not needy".
Well, if you borrowed $600 in 1998 at 10% interest, which is a generous interest rate, yearly interest, and 2 payments made in 2000, it seems you would owe him roughly $805....give or take a few dollars, I did the math by hand. For an easy calculation, I assumed you paid $140 in the sixth month of 2000, bringing your balance down to $576(was about $716 with interest). From month 7 of 2002 the interest on the $576 would bring you up to $805 at month 6 of 2003. If it were me, I would pay the $805 plus an extra $100 for the trouble and offer an apology, if he wants to accept it or not is his choice. I wouldn't worry about it, you pay what you you owe, including interest, and something extra for the delay/trouble, apologize and move on.
He can't pass along his card interest and late fees to you. daveberk =========== He might if there was an agreement to pay the principal and the interest on the card till the loan was pad back to the card. THE END ** *** ** LB 59 """""""""`````````````"""""""""
Just as a clarification, there was no agreement to pay his late fees or intrest. As I said before, I am going to pay him a sum of $900 right now, and negotiate for the rest, and will most probably pay what he asks after 3 months.
