Can the creditor continue to charge interests in coll?

Welcome to the Community :D I would think they would continue to charge interest. Are you talking about a settlement agreement?

If you do settlement arrangements with any company, be sure and get it in writing. If you don't, they will say- what settlement?

Feel free to ask qusetions, we are here to help and guide you!!..Karen

Know the actual status of your account. Creditor can either hire a collection agency to recover the debts or he can sell the account to the CA for a certain percentage. If the CA is collecting on behalf of the creditor, the account will add up with interests and fees until the debt is paid. If the account is sold off, the CA will recover the balance along with their costs of collections. The CA can charge within the permissible rates, which are governed by the attorney general of the individual state.

Like Bossy said get your agreement in writing including the final charges and make sure you get a paid in full letter to protect yourself. Most creditors can charge interest and fees on even closed accounts as long as it is in either their terms & service or contract.Some states restrict this by requiring certain licensing.

The creditor will chage you intrest and late fee's on a credit card until it charges off. If it is a loan, the creditor will continue to chage you intrest and possible late fee's until they decide you aren't going to pay it back and recoup some of their losses by selling it to a collections agency.

Depending on the type of debt it is could be charged continued interest as per your state law allows.