Collection agency fees?????
Date: Tue, 07/25/2006 - 15:29
Hi All,
Please help with my issue with collection agency fees.
Original creditor balance $1,427. They sent me to a collection agency to pay the past due amount. I was told this was the only way I could resolve this past due account. I paid $1196.64 to collection agency then returned to original creditor for payment of current balance. The original creditor sent a current balance statement for $529.28. That is only a difference of $879.72. I asked them to "Please explain where $316.92 has gone". I was told by the original creditor the collection agency has a fee of 33 1/2 %. Is this B.S.? Can I fight to have the entire amount applied that I paid? I was NEVER told I was paying a fee!
Please help with my issue with collection agency fees.
Original creditor balance $1,427. They sent me to a collection agency to pay the past due amount. I was told this was the only way I could resolve this past due account. I paid $1196.64 to collection agency then returned to original creditor for payment of current balance. The original creditor sent a current balance statement for $529.28. That is only a difference of $879.72. I asked them to "Please explain where $316.92 has gone". I was told by the original creditor the collection agency has a fee of 33 1/2 %. Is this B.S.? Can I fight to have the entire amount applied that I paid? I was NEVER told I was paying a fee!
collection agencies have a service fee if it is mentioned in the
collection agencies have a service fee if it is mentioned in the contract you signed with the credit company. Read the original contract and see whether this point has been put clearly. If the CA is allowed to put the collection fee, it must be within the laws in your state. You can inquire the percentage with the AG office of your state.
Thanks "incredible". Forgive me, what is an AG office?
Thanks "incredible". Forgive me, what is an AG office?
It's the attorney general's office in your state. You can inquir
It's the attorney general's office in your state. You can inquire about the collection fees allowed in your state from their office.