If I was charged 152% interested on a credit card can I get the debt cleared?

My husband had an old credit card that was charged off... He now has a third party collection agency that has served him with a summons for this debt... We were looking through all of the old statements and found that one of our statements said we were charged 152% interested - which I believe is illegal. Could this possibly get the debt cancelled/removed/cleared/etc...?

If I was charged 152% interested on a credit card can I get the debt cleared?

Hi,you need advice %26amp; the best place is citizens advice.Good Luck

If I was charged 152% interested on a credit card can I get the debt cleared?

Hire a GOOD lawyer. This one is a federal case. Once the charges are filed, have the lawyer fire off a letter to the collection agency informing them that they are attempted to collect money that was fraudulently billed, and if they continue to persue the matter, they will be also charged in the lawsuit as accesories to the crime. They will probably drop everything and run away as fast as possible from your case. If they done, just have your lawyer serve THEM with papers too and dont settle with the collection agencies unless they pay YOU big bucks.

If I was charged 152% interested on a credit card can I get the debt cleared?

wow! i heard of some high rates in my time but never that much!!

well i know that loan sharks have a ceiling price of about 52%, so i would presume other institutions like banks would have a similar limit!!!

i know this isn%26#039;t the best time to be spending money but i would recommend getting a lawyer or solicitor!!!

you may even be able to claim the cost back off the company because it is there fault that you had to get one in the first place!!

good luck!

If I was charged 152% interested on a credit card can I get the debt cleared?

if the contract says compound daily,theres no way,sears has a daily intrest and it adds up to be 15% don%26#039;t hold me to it,but thats the only way i see