A debt have be sold to another company who surrounded by 6 months have doubled the amount owed. Can they do that?
A debt of mine from a credit card be bought by a collection agency, but on my credit report, the symmetry the collection agency is showing is 2x the amount of the be a foil for they bought. Can they do this? The description be closed contained by 2004 and sold February of this year.
Answers:
The collector can charge interest/fees on the commentary IF it is notated within your unproved card/loan agreement beside the inspired creditor AND if your state allows it. (if your state does not allow it, it would not concern if it is contained by the agreement, the collector cannot charge interest/fees)
The amount of interest/fees charged by a collector are also govern by your artistic agreement. (and possibly by your state statutes)
If the imaginative creditor be reporting {for example} $1000 in January, after they sold/assigned the picture to the collector contained by Feb. and the collector states you owe $2000, it does nouns approaching they hold fudged the numbers.
If so, they own violated a couple section of the FDCPA (and possibly some of your own state statutes)
FDCPA that they possibly violatied:
§ 807. False or misleading representations [15 USC 1692e]
(2) The false representation of --
(A) the individuality, amount, or official status of any debt; or
(B) any services rendered or compensation which may be with permission received by any debt collector for the collection of a debt.
And
§ 808. Unfair practices [15 USC 1692f]
(1) The collection of any amount (including any interest, levy, charge, or expense incidental to the principal obligation) unless such amount is expressly authorized by the agreement creating the debt or permitted by directive.
They can do that, but you don't necessarily involve to income adjectives of it. They added bogus behind time fees to try to capture more money from you. Most collection agencies will settle for a fraction of the symmetry, sometimes as low as 50% of the untested debt.
Good luck!
Just curious but how do you know how much they bought it for?
Echo is correct as other.
Two different collections for one description on my credit report?
Included contained by collapse?
How do you build your credit hastily?
Whats up beside this?
Is it possible to be 13 and own a debt card?
Answers:
The collector can charge interest/fees on the commentary IF it is notated within your unproved card/loan agreement beside the inspired creditor AND if your state allows it. (if your state does not allow it, it would not concern if it is contained by the agreement, the collector cannot charge interest/fees)
The amount of interest/fees charged by a collector are also govern by your artistic agreement. (and possibly by your state statutes)
If the imaginative creditor be reporting {for example} $1000 in January, after they sold/assigned the picture to the collector contained by Feb. and the collector states you owe $2000, it does nouns approaching they hold fudged the numbers.
If so, they own violated a couple section of the FDCPA (and possibly some of your own state statutes)
FDCPA that they possibly violatied:
§ 807. False or misleading representations [15 USC 1692e]
(2) The false representation of --
(A) the individuality, amount, or official status of any debt; or
(B) any services rendered or compensation which may be with permission received by any debt collector for the collection of a debt.
And
§ 808. Unfair practices [15 USC 1692f]
(1) The collection of any amount (including any interest, levy, charge, or expense incidental to the principal obligation) unless such amount is expressly authorized by the agreement creating the debt or permitted by directive.
They can do that, but you don't necessarily involve to income adjectives of it. They added bogus behind time fees to try to capture more money from you. Most collection agencies will settle for a fraction of the symmetry, sometimes as low as 50% of the untested debt.
Good luck!
Just curious but how do you know how much they bought it for?
Echo is correct as other.