creditor contract
Date: Mon, 06/10/2013 - 11:44
I was wondering if a creditor obtains a contract that basically states that an individual has to pay the balance in full by a date @5 years from now, and that creditor sends the balance to a collection agency, is the contract still binding to the collection agency? can a collection add interest to the principal? Thank you.
If you are sent to a
If you are sent to a collection agency, you are in default. By defaulting, they have the right to call the entire balance due in full immediately. And yes, interest can still be added.
