thebone Posted March 14, 2008 Report Share Posted March 14, 2008 I disputed some information on my CR and today I received a statement/letter from the CA. This is from a past bill utility bill (PB PACBELL in the amount of $350.08. They said they are going to report to all the CRA that this account is a disputed but unpaid and unresolved delinquent collection account, I then look at the amount owed and the principal Owed is $350.08 and they have added interest owed is $305.23 for a total of $655.31. This is almost 100% interested is that legal? Link to comment Share on other sites More sharing options...
Robert Nashville/Savannah Posted March 14, 2008 Report Share Posted March 14, 2008 Generally a CA can't add interest on their own authority but they can certainly reflect how much of a debt IS interst added by a party that does have the right to do so.Whether adding interest to a debt is or isn't legal is dependent on who currently owns the debt, what the service agreement/contract with the original creditor says abotu interest/collection fees and your state law. Link to comment Share on other sites More sharing options...
Ravenous Wolf Posted March 14, 2008 Report Share Posted March 14, 2008 That is also a common tactic of a CA. After they have bent you over with outrageous interest charges and ridiculous fees, they then come up with a very generous settlement offer.In your case, it could be for something around $400 and they try to make it sound like they are really cutting you a lot of slack and that you are getting a sweet deal when in reality, they are just giving you the big chorizo.I had that happen to me lots of times... Link to comment Share on other sites More sharing options...
thebone Posted March 14, 2008 Author Report Share Posted March 14, 2008 This is the first time I have seen it, I am going to validate this account with the CA and that should give me a break down on what the charges should be. The CA is American Agencies of California, has anyone dealt with them? Link to comment Share on other sites More sharing options...
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