How much can they charge you in fees & interest on origi
Date: Sun, 04/06/2008 - 10:49
help!
:(
Well, the interest that can be accessed is that of the original
Well, the interest that can be accessed is that of the original contract, otherwise it is 6%, unless your state legislature says otherwise. Some state may not permit collection agencies to charge interest. You should check your state legislature that governs CA's to determine if the fees are proper. However once the account is charged off I don't believe late fees may be accessed.
Where can I find that information on how much interest may be ch
Where can I find that information on how much interest may be charged? I am assisting a family member with a charge-off account that is nearly doubled in amount due to "fees and interest" the collection agency has tacked on. Would the law be based on the state the debtor is in or the collection agency?
The law would be based on where the debtor lives. You could als
The law would be based on where the debtor lives. You could also DV the CA and make them prove those charges are legal. If they can't produce a signed agreement or contract, then they can only charge you interest that your state allows.
