Do I have any legal recourse with excessive late fees?

Get Legal Help Today

secured lock Secured with SHA-256 Encryption

Do I have any legal recourse with excessive late fees?

A few years ago I bought a laptop on store credit. I’ve been paying on it the best I could, but two years ago when I graduated college I had to leave my job. In that time, I was being penalized late fees, even after I told them I couldn’t pay because I was unemployed. I now have a job and have been paying on time for a year but I realize my balance is almost three times the amount of the laptop due to late fees. Is there anything I can do? It seems almost usurious to pay $1500 back for a $600 laptop.

Asked on January 31, 2012 under Bankruptcy Law, Georgia

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 10 years ago | Contributor

Were late fees part of the purchase or financing agreement for the laptop? That is, somewhere in the paperwork which you signed and/or reviewed at or before the purchase, did it say that you could be charged late fees or interest if you paid late or defaulted? If the late fees were part of the agreement, you may be charged them, even if they are "excessive" by most standards. On the other hand, if the fees were not part of the agreement which you agreed to when purchasing, they might not be able to impose them after the fact.


IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.

Get Legal Help Today

Find the right lawyer for your legal issue.

secured lock Secured with SHA-256 Encryption