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Yes, as well as any subsequent legal fees.

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โˆ™ 2006-02-17 23:05:09
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Credit and Debit Cards

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The law is derived from three main sources what are they

If there is an erroneous payment then

These funds last 5 years have limited use and cannot pay for new obligations

How do you know which transactions are awaiting your approval

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Credit and Debit Cards

21 cards

The law is derived from three main sources what are they

If there is an erroneous payment then

These funds last 5 years have limited use and cannot pay for new obligations

How do you know which transactions are awaiting your approval

See all cards

Math and Arithmetic

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Please Evaluate this algebra expression -4 -3

Joe borrowed 8000 dollars on a one year note at 13 percent how much will joe owe when the note comes due

How much time will a 500 investment need to earn 100 in interest at a rate of 10 percent per year

1000 dollars in a savings account pays 7 percent interest per year The interest earned after the first year is added to the account How much interest is earned on the new principal the following year

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Q: Can a collection agency still add interest to a charge off?
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Related questions

What does charge off of debt do for card holder?

You will still owe the money, plus interest and lots of collection charges. A collection agency will hound you for payment and you will have a hard time getting another credit card or any kind of loan.

If a credit card does a charge-off and sends it to a collection agency can the original creditor still try to collect?


Can the bill collector who bought the bad credit card charge interest over the interest that has already accumulated before?

Collection agencies can only charge interest if you agreed to it in your original contract. If they actually bought the debt they shouldn't be able to charge any additional interest on it since you did not sign a contract with them allowing them to do so. Please keep in mind that not all collection agencies buy debt. Some are still collecting on behalf of the original creditor which means interest and fees could continue to accrue.

If a company is no longer operating what will happen if you dispute a charge off that is with a collection agency?

Whether the company is opertaing or not, does not make any difference. Proof of your account is still there.

You owe 690.00 to a food vendor should you pay a collection agency?

No pay the vendor. If you pay the collection agency they will extract a fee from the payment and you will still owe the vendor

When you are making payments to a collection agency can they still sue you?

Yes, if the payments being rendered are not in accordance with the financial agreement. It is, however, unlikely that they would take such action as it would not be in anyone's best interest.

Can a collection agency put a lien on your house because of a charge off?

Yes. A charge off simply charges off the debt with the original creditor but just because it is charged off the creditor still can take action to collect on the debt.

What are charge offs?

Charge offs are accounts that have been written off by the creditor as uncollectable. The debt owed is still valid and can be collected on either by the original creditor or by a collection agency. You can only erase charge offs by disputing them to the credit bureaus or negotiating the removal by the original creditor.

If the collection agency didn't collect anything from you do you still owe the collection agency anything in the state of Wisconsin?

Of course. If it's an unpaid debt, the collection agency owning the debt may try to collect it. And beware, they can track you down no matter what. However, they have to abide by certain rules, which are defined in the Fair Debt Collection Act.

If you are making sporadic payments to a collection agency and they cash them can they still sue the cosigner?

Unless you have a specific repayment plan that the collection agency agreed to, there is no legal reason that cannot sue the cosigner.

If a creditor uses a collection agency to collect on a debt do you still have to receive some kind of statement?

No. The collection agency will validate the amount for you if need be, but the creditor no longer owes you the courtesy of a statement.

Do you still need to pay a company if you are paying a collection agency for the charged off debt?

No, as they are the legal agent of the original Creditor and the arrangements made with the collection agency are binding on the original Creditor.

Are your rights the same if your credit card debt went to a legal firm and not a collection agency or is a legal firm considered a collection agency?

Yes, a collections law firm, is still defined under the FDCPA as a collector. They are required to follow the same regulations that apply to a regular collection agency.

Can a credit card company still send you monthly bills and charge you finance charges on your account if they sent it to a collection agency?

YES, it stops collecting intrest when it goes to collections. at that point they have transfered your debt. It then becomes someone elses problem. But they stop collection intrest.

Can a creditor still charge interest rates if they are garnishing your wages?

If you have a garishee against your salary can the creditor still charge interest. Thanks Theo

If Company A sends your acct to a collection agency but you decide to pay off Company A do you still owe the collection agency money?

Nope. Advise the collection agencey that this was settled with the original creditor. You may have to provide them with a copy of a canceled check or money order. You can also have the creditor call the agency. Some will, some won't.

How do you remove a paid collection from your credit report if you paid even though disputed and did not agree with it and provided proof to original creditor who still sent you to a collection agency?

Don't let a collection agency push you around. As a consumer you have many rights. The best places for anyone to exercise their rights are in small claims courts. For less than $100 you can bring a collection agency to their knees.

If a collection agency goes bankrupt how does someone find out who owns the debt?

Even if the collection company goes bankrupt, you still owe the bank whatever money you borrowed from them. The bank hires the collection company to get that money, so you still owe them

Is it better to pay original creditor who still owns account or debt collection agency who is collecting for original creditor?

Paying the collection agency will clear up your account much quicker and some creditors will return the payment to you if you send it directly to them. Most creditors sign a contract with a collection agency and cannot discuss the debt with the debtor once they place it with the agency, they must refer all correspondence, communications and payments to the agency for the life of that contract.

What happens if a person lives out of country and is being sued by collection agency Does collection still get default judgment even if he didn't get the court apparence letter?


If you offer to pay a lessor amount on a hospital bill then was previously agreed upon can they still send the account to a collection agency?

Yes. You have a legal contract to pay the agreed upon amount. If they did not accept your latest offer, they can send the bill to a collection agency.

Will a charge off get rid of the collection attempts?

No, a "charge off" does not mean the debt has been cancelled by the creditor, the debt is still valid and collectible. The term simply indicates that the creditor is removing the delinquent account from their "books" and will pursue other means such as referring it to a outside collection agency, selling it to a third party collector or using litigation in the form of arbitration or a civil suit to recover money owed.

You paid off your car debt and the collection agency still has not sent your title?

Sue them for wilful noncompliance and harassment.

Collection acct removed but original creditor still remains?

Yes, reporting to your credit by a collections agency does not effect the reporting originally made by your creditor. It most normal cases you would see the original creditor having reporting the account as a "charge off" regardless of any reporting made by a collections agency afterwords.

Can a lender charge you interest in Michigan on the remaining balance of a car repossed?

It is still a loan. as long as you owe, interest accrues.