All Forum Posts by: A.R Shakir

Jesse Moran 10k by 0.1 percent the penalty of not paying this is twice the value of the security deposit

Megan McGinty I didn’t find that as a risk, that is the letter she sent me, stating her story

Megan McGinty She had a horrible credit score,single mom, but a professional who went into foreclosure. She sent me a letter asking for a second chance. I guess I was the sucker

Kyle J. Thanks for the advice, I have heard from a couple attorneys already if you do not pay that interest in Chicago. It’s 2 times the security deposit plus the remaining security deposit owed. So even if the interest is 1 dollar

Ahmed Motiwala Yes her lawyer is asking 300 dollars a hour !

Brie Schmidt I think you had the right question, that I couldn’t figure how to ask Thanks

Ahmed Motiwala I did just the first two( just not interest bearing) The 1st lease was March 2016 to feb 2017 She signed another lease from March 2017 to August 2017 then a lease extension inAugust till Jan 2018. I never did pay the interest after 12 months my negligence. I did not pay back the full security deposit because she did not pay last months rent and damages. Rent 3550 Deposit 10k Repairs 2650 I did not due my due diligence with a interest bearing account and not paying interest after 12 months. Never thought 27k would be the penalty....

@Thomas S.

Yes I take responsibility for not paying 200 dollars of interest over 2 years, just never thought a penalty or 27K (2 times security deposit and remaining security deposit) was the penalty.

I will have to sell to pay the place to pay this amount.

@Angelica Vargas

Thanks for the advice, I did not do my homework, but I will the next time.

Brie Schmidt No offer to settle, I am hoping but prepared just to pay the amount because of all the laws that I have been reading on. It was in a separate account,it was not interest bearing. It’s my fault but the penalty just seems enormous. Any lawyer recommendations?

Brie Schmidt So I probably should settle... for 250 of interest now I owe 27k doesn’t seem fair. To note I had to deduct for unpaid rent and damages from deposit which looks like it doesn’t matter