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# If a car was repossessed and the amount due was 15K dollars can a collection agency claim to be collecting the amount due plus interest seven years later?

262728 ###### 2015-07-16 18:05:44

IF the CA was assigned the debt by the lender, IF the CA bought the debt from the lender, most important, IF there was a judgment against the debtor. YES. 6 yrs of interest adds up.

YES

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## Related Questions You can,t a million dollars interest from a million dollars but you can get half a million dollars That depends on the interest rate. If the interest rate is 1%, the interest is 40,000 dollars yearly. If it is 2%, the interest is 80,000 dollars yearly, etc. You can earn a lost of interest on a billion dollars. The amount of interest you will earn will depend upon your rate of interest and how long you leave it in the bank. As long as the 450.00 is in DEFAULT, it can be repoed.    The largest GIJOE collection that i am aware of is in excess of a half million dollars, and there are handful that are in excess of a quarter million dollars. It means that the interest is added to the capital, before calculating the interest for the next period.For example - to simplify calculations, I'll use a 10% interest rate, and an initial capital of 1000 dollars:With simple interest, you get 100 dollars every year, 300 dollars in 3 years (for a total capital of 1300 dollars).With compound interest, the first year you get 100 dollars interest (10% of 1000).This is added to the capital, so you have a capital of 1100. Next year, you get 10% of 1100 in interest, i.e., 110 dollars.Now, your capital is 1210 dollars. The third year, you get 121 dollars capital.After 3 years, with compound interest, you have a capital of 1331 dollars.This calculation is simplified with powers: Every year, your capital increases by a factor of 1.1, so after 3 years, you have a total of 1000 x 1.1 x 1.1 x 1.1 = 1000 x 1.13 dollars. In two years, the value of 10,000 dollars with 3.78 interest would be 10,770.29 dollars. An increase 770.29 dollars would be realized. 12% of 3000 dollars = 3000*12/100 dollars = 360 dollars. 9% of 150000 dollars = 150000*9/100 = 13500 dollars 13500 dollars per year = 13500/12 = 1125 dollars per month. At current interest rates 3 billion dollars would earn about 30 million dollars a year before taxes. The Horchow Collection is a luxury brand whose items are generally several hundred dollars when on sale. They have bedding and furniture that is a few thousand dollars.    With simple interest, you just multiply the capital, the number of years, and the yearly interest rate. For example, for a capital of 10,000 dollars, 3% interest, 10 years, that would give you 10,000 x 3/100 x 10 = 3,000 dollars interest.With compound interest, after the end of every year, the interest is added to the capital, before calculating the interest for next year.In the example above, the first year you get 10,000 x 0.03 = 300 dollars. This is then added to the capital, before calculating the interest rate for the next year; so, the second year you get 10,300 x 0.03 = 309 dollars interest. No indication of where this question comes from. You will have to check the laws in your state to determine if these charges are legal. Sorry to say, but unless they are in pristine condition, meaning "Uncirculated" then the collection would be worth anywhere from 10-15 dollars. It just totally depends on the condition of the coins. This can become a very fun hobby though. I am in college and I still have a large collection that grows with every collecting event that I go to. Pick up a magazine and have some fun with it!  That depends on the interest rate; this has been varying widely in recent years. Multiply the capital (the 50 million dollars) by the yearly interest rate; divide the result by 365 to get the daily interest. Assuming this 100 billion dollars is deposited in a savings account that earns an interest of 1% per year, the interest earned in a day would be \$ 2739726. Assuming this 100 billion dollars is deposited in a Certificate of Deposit that earns around 2.5% interest per year, the interest earned in a day would be \$6849315 It depends on the interest rate agreed with the lender. ###### Math and ArithmeticBankingPersonal FinanceAuto Loans and FinancingRepossessionHospitalsMathematical FinanceGI JoeSymbols for Stocks Mutual Funds and ETFsInvesting and Financial MarketsFurnitureSalary and Pay RatesLaw & Legal IssuesCoins and Paper Money Copyright © 2020 Multiply Media, LLC. All Rights Reserved. The material on this site can not be reproduced, distributed, transmitted, cached or otherwise used, except with prior written permission of Multiply.