if bank financing credit accounts is located in south dakota and they say in their terms that their laws will be used is that legal? would their statutes have any bearing on the AZ homestate exemptions of the debtor or overide them all.
Unfortunately, this can be a tricky answer. As lawyers are famous for saying, "It depends," but in cases like this it does depend on: the agreement you originally signed, your state's laws, and your specific situation.
In most cases, credit card companies have as a part of their terms and conditions the state in which disagreements will be heard and most also require you to use legally binding arbitration.
The best way to proceed is to connect with a local attorney who may give you a free consultation, like our office does. It also depends on how much debt is owed. If its a small amount you may be better off negotiating yourself, but if its a considerable sum, I recommend you connect with a local attorney in your area.
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oroginal amount due 3258.30, interest due $0.00, misc fee due $0.00....we agreed on $25.00 a month. I began payments in April 2009. My statment end of June 2010 was 2883.30, and then my statment end of July is $4639.11. When I called they said ...
This is a very common occurrence. What the collection agency wants you to do is "roll over" and pay their "fees and fines."
Unless they are willing to negotiate the debt directly with you, you may need to get an attorney involved. However, you need to weigh the amount due versus the amount an attorney will charge.
Many attorneys, including our office, will give you a free consultation and even an estimate of what the costs involved would be. For example, it may be as simple as writing a stern letter to the collection agency from your attorney or it may involve calling them directly to negotiate on your behalf.
If you would like to know more, I invite you to call our office at 480-294-1106.See question