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.

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Comments for Fees on Collection Accounts?

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Aug 30, 2011
Generally, you are responsible for collection fees!
by: Anonymous

It depends on if you signed a contract indicating that you are responsible for collection fees, attorney fees, etc, when you don't pay for the product or service that you benefited from.

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