However, if you default on your loan, the creditor has the right to charge late fees and interest charges.

I have a collection agency trying to collect $427 on an original amount of $377. The original debtor is a cable company. Is it lawful for a debt collector to add interest to this type of debt and ask for more that the original amount? If I am reading correctly [15 USC 1692e] § 807(2)(a)says no as does FDCPA. [15 USC 1692f] § 808(1)

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What I see, you haven't asked any question. However, if you default on your loan, the creditor has the right to charge late fees and interest charges. It's best to talk directly to the creditor to come to an understanding.

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Creditors are charging my debts a late charge fee and fee for interest charges..When they add these fees to our accounts, this puts us over our limit and therefore thats a another fee adding to our accounts.

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Yes, you've read this right. A collection agency cannot ask to pay more than you owe or misinterpret the debt amount. [15 USC 1692e] § 807(2)(a). Again, a collection agency cannot add any interest or fees that the original loan arrangement does not allow. [15 USC 1692f] § 808(1).


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