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Yes, unfortunately they can charge interest and other fees if they have purchased the debt from your original creditor. However, it is always a good possibility to negotiate collections for a fraction of what you owe (including extra fees).
Wiki User
∙ 11y ago
Wiki User
∙ 15y agoThat varies from state to state. In my state, collection fees can be added by the original creditor only and debt collectors can only add interest post judgment.
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Can a collection agency charge fees or interest in new jersey?
Collection agencies can't add charges. Fees and interest charged to your account are per the terms of your contract with the creditor.
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.
When a credit card account has been charged off can the collection agency charge you additional fees and interest?
It would depend on the state laws that are apply to collection agencies and collection procedures. In many states they can add fees incurred for the collection of a debt and interest on the amount of the debt itself.
Can a collection agency charge interest on a debt?
In some situations interest and accompanying collection fees can be assessed.
Can collection agencies add fees and interest to accounts in Wisconsin?
Yes.
Can collection agencies request additional money on interest charges after the debt is paid in full?
No, a debt collection company purchases a debt from a creditor. They can try to collect on that debt but may not charge interest on it as they have no contract with you outlining interest charges. If a company is attempting to do that, cite the Fair Debt Collection Practices Act, a federal law, and complain to the Federal trade Commission, which oversees debt collection practices.
Can collection agencies double your interest rate?
Read the contract. If the contract says they can...
How do collection agencies work re rates they charge the collectee and the collector?
Generally a collection agency will charge the company they are collecting for a percent off what they collect. They do not charge the person they are collecting from.
Do collection companies charge interest?
i dont think so
Can you be charged interest on medical bills by a collection agency?
Yes, unfortunately a collection agency can charge interest and other fees when they obtain a debt.
International data collection agencies pdf?
international data collection agencies
Debt collection abroad?
Debt Collection Agencies can collect abroad but the agencies that collect abroad are usually commercial collection agencies that deal business to business
