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Is Collection company allowed to claim interest on the debt…

Customer Question
Is Collection company allowed to...
Is Collection company allowed to claim interest on the debt they have not proven to be valid ?
Submitted: 7 months ago.Category: Business Law
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Answered in 1 minute by:
11/21/2017
Business Lawyer: Legal Expert Justin, Attorney replied 7 months ago
Legal Expert Justin
Category: Business Law
Satisfied Customers: 236
Experience: Attorney
Verified

Hello! My name is ***** ***** I'll be the Expert assisting you today. Can you please provide some more details? Has this company filed a complaint in civil court yet? Or have they just demanded that you pay them? Have you specifically requested validation of the debt yet?

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Customer reply replied 7 months ago
I just received first letter from them , that shows
principal
Interest
charges,but does not provide any detail about what the debt is for
Business Lawyer: Legal Expert Justin, Attorney replied 7 months ago

You should write to them and ask them to verify the debt pursuant to the Fair Debt Collection Practices Act (15 USC 1492(g)). They are required to show validation of the debt and allow you a chance to contest it.

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Customer reply replied 7 months ago
what about the interest . are they allowed to charge interest ?
Business Lawyer: Legal Expert Justin, Attorney replied 7 months ago

That would depend on the original terms of the debt. Without a copy, it is impossible to say.

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Business Lawyer: Legal Expert Justin, Attorney replied 7 months ago

But assuming that interest accrued on the debt at a certain rate, then yes, they would be able to charge that interest.

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The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

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