Can interest be added to a charged off account after it has been sold to a bill collector?

Question

Where would I look to find the laws on this for different states?

Answer 1

Yes, interest can be charged. There are federal collection laws and then there are state exceptions and or additions.

Look for a book called: Complete Guide to Credit and Collection Law. Written by: Arthur and Jay Winston.

I have the 2005 edition if you would like me to look up something specific.

Answer 2

Generally they can not. However if there is something in your original agreement, they may be able to do that.

Answer 3

no