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And, no---in no way am I affiliated with the site.....

Just stumbled across it...

Sharing is good..... ;) we don't mind you share other sites as long as you don't come here and promote your own sites for your own benefit- which is not the case since I'm familiar with FCM :lol:

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I see that FCM has been around awhile but I could never get to it. I seemed to always end up at a screen with a bunch of search results (try faircreditmovement.org).

Has this site been down and just recently resurfaced ?? Or did I just miss the boat for awhile ?

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They CANNOT add collection fees to your debt. The ONLY fees that any agency can add to your debt is interest and that is only if your original contract included interest.

I thought they could. Am I missing something? Or can they only add fees if they seek a judgement against you?

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I see that FCM has been around awhile but I could never get to it. I seemed to always end up at a screen with a bunch of search results (try faircreditmovement.org).

Has this site been down and just recently resurfaced ?? Or did I just miss the boat for awhile ?

Yes, this site had been down a while, I had gotten e-mail after she moved the site giving notice of the site being back up and going, but it had been so many months since I had even browsed this direction.

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Of course they can add fees. However, every state has its own regulations on this.

Well that is what I thought. That is why I was a bit perplexed by this "good site" saying something contradictory to that. The quote I used was from their site:

They CANNOT add collection fees to your debt. The ONLY fees that any agency can add to your debt is interest and that is only if your original contract included interest.
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Of course they can add fees. However, every state has its own regulations on this.

Well that is what I thought. That is why I was a bit perplexed by this "good site" saying something contradictory to that. The quote I used was from their site:

They CANNOT add collection fees to your debt. The ONLY fees that any agency can add to your debt is interest and that is only if your original contract included interest.

Hold on a second who are you going to pay the fees to, the CA????

They may be able to charge collection fees( ??? if the state allows) but they(the CA) has to first prove they have a contract with you are obligated to pay the CA.

If anybody has a link to a state statue that says Late fees can be added to a debt that has gone into default, or to a debt that has been legally ASSIGNED to a CA I would like to see it. I want to see how that fits into the ORIGINAL CONTRACT, I find it very difficult for and OC to charge collection fees on a debt that has gone into default unless the original contract states so. I know some contracts do, but mose don't.

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ADSOFT,

Luckily I am not going to pay anyone as I have never had to deal with a CA. :) Just trying to clear up the confusion between what I understood and what that "other" site was saying. I think OC contracts generally have a provision for collection fees.

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This is not my stongest point, but anyway will give a try, lol

A few years ago, I was working for a rental appliance store, we had accounts that needed to be collected on so I called a collection agency that personally came out to our business and sat down with the accounts to figure up what we would be doing.

They specifically gave us a formula for figuring up the percentage to be charged on each account prior to them taking over collection efforts.

I can't say that I understood it at that time what we where doing, but I also know in our contracts we had it to say, that the consumer would be responsible for collection efforts and reasonable collection / attorney fees, so it was left open just for that purpose of figuring up cost.

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This is not my stongest point, but anyway will give a try, lol

A few years ago, I was working for a rental appliance store, we had accounts that needed to be collected on so I called a collection agency that personally came out to our business and sat down with the accounts to figure up what we would be doing.

They specifically gave us a formula for figuring up the percentage to be charged on each account prior to them taking over collection efforts.

I can't say that I understood it at that time what we where doing, but I also know in our contracts we had it to say, that the consumer would be responsible for collection efforts and reasonable collection / attorney fees, so it was left open just for that purpose of figuring up cost.

I'm not tryng to go against the flow here, I just want to make sure we all know our rights regarding collection fees.

I guess from what you guys are saying the state has allowed a provision for reasonable fees: What they are, I guess from what is being said it depends on the state. Yet, it still sounds like the original contract has to state collection fees may be applicable if you default.

Of course, if you have been following what I have said regarding the RIGHT for a CA to force you to collect, well the have to own the debt and have an assignment clause in it. (basically it takes a lot: Not trying to mix threads but I will make a post later explaining that).

Anyhow, If anybody has a link to a state statue that defines the formula for reasonable collection fees, I would like to see it.

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