Question about lawyers doing collections
Date: Tue, 02/14/2006 - 20:12
I was reading some stuff on that edcombs.com website about Riddle & Associates getting in trouble for adding attorney fees to accounts in West Virginia. Apparently that state does not allow you to add fees to collections accounts unless they are federal, or student loans. Anyways..that raised a couple of questions. First of all, how do you find out if your state allows adding of attorney fees, AG office? Second, if a lawyer is trying to collect on your account and he is not in the same state as you, does he have to be licensed in your state? Just curious, partly because I have an account with Riddle & Associates right now. Thanks.
The consumer protection office or the state attorney general's o
The consumer protection office or the state attorney general's office has the permissible rates of interest that must be used by the collectors.
Also, the agreement contract signed with your creditor must mention the interest rates based on which collections will be carried. So, if a state allows the collector to charge interest, it must be according to the terms mentioned in the contract signed with the creditor.
