Fees on Collection Accounts?

by Jerry
(Oklahoma City)

Can the person that placed the debt add fees to the balance to cover the cost of collecting it?

Reply from DebtCollectionAnswers.com:

The amount of fees that can be added to a collection account will depend on both state law, and/or the contract for the debt. If you think the fees are excessive, you'll need to consult a consumer law attorney to find out if they are legal. Keep in mind, though, that once an account goes to collection it can often be negotiated for less than the full balance.

Please be sure to at least read the first chapter of our ebook
Debt Collection Answers online for free so you have an understanding of how to deal with this collector.