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What else can I help you with?
Can a collection agency charge interest on a debt?
In some situations interest and accompanying collection fees can be assessed.
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.
Why do finance companies charge such high rates of interest?
If a company has adopted 'Table A', it can charge interest on calls-in-arrears at the rate of
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.
What is a good sentences for exorbitant?
The check cashing companies charge an exorbitant interest rate.
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.
If something has been sent to collection can the collection agency charge you interest?
If the original creditor charged interest then the collection agency will continue to accrue interest at either your states legal rate or whatever you agreed to in the original contract until the debt is either paid or sold to another collection agency or placed with an attorneys firm for legal litigation.
Can a debt collection agency that bought the original debt charge you monthly interest?
YES. They can charge you the maximum interest as indicated in the bank agreement you signed or they sent as an update to you in the mail PRIOR to the collection process beginning. Usually this is why banks MAX the interest once you missed two or three payment in a row. They see the writing on the wall.
What's the interest rate on instant loans?
You can expect very high interest rates. In fact, some of these companies charge you interest rates upwards of 50%.
What is credit card interest?
Credit Card Interest is basically the way credit card companies make money. They charge you interest for borrowing their money. But usually if you pay your bills on time and don't have any fees, they won't charge you any interest.
Can a collection agency still add interest to a charge off?
Yes, as well as any subsequent legal fees.
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.
