I am in the process of settling my debt. A collection agency which bought my account is charging more than double what I owed. Is this legal? How much can a collection agency legally charge? Please if you dont really know the answer to my question do not respond. I need to know the answer. Thanks
2006-08-21 15:40:06 · 6 answers · asked by mertz 1 in Business & Finance ➔ Credit
How many times are u going to ask this question?
2006-08-21 15:46:58 · answer #1 · answered by Luckys Charm 4 · 1⤊ 1⤋
a series employer offered the account from the corporate you've been orginally with. If that company kept your account energetic (and persisted to fee the pastime cost) depending upon how lengthy previously they bought the account to the series employer then definite. If the overdue expenditures and pastime further as a lot as about an same quantity because the unique quantity of debt. On an aspect be conscious, oftentimes series organizations purchase those debts pennies on the dollar. so that you will be able to make a take care of them and furnish a smaller quantity. and they could settle for it because they could nevertheless be getting a earnings.
2016-11-26 22:17:06 · answer #2 · answered by woolum 4 · 0⤊ 0⤋
a collection agency can charge you at a specific rate of interest as determined by the company that turned your debt over to them. Sometimes there are also "collection" charges. Ask to see a detailed record of how they are charging you
2006-08-21 15:47:12 · answer #3 · answered by salty_pearl 3 · 0⤊ 0⤋
Read up on the topic, document everything, get an attorney and sue them. FDCPA 15 USC
2006-08-21 16:21:46 · answer #4 · answered by Anonymous · 0⤊ 0⤋
If you file bankruptcy they wont take anything from you.
2006-08-21 15:47:35 · answer #5 · answered by Tatyana 2 · 0⤊ 0⤋
ask a lawyer
2006-08-21 15:46:28 · answer #6 · answered by ShaMayMay 5 · 0⤊ 0⤋