smurfette in nyc Posted April 17, 2008 Report Share Posted April 17, 2008 Something I found on the web, that is good to know:Q: A debt collector says I owe fees that are almost as much as the original debt. Is this allowed?A: The FDCPA says a collector may not collect any amount greater than your debt, unless your state law permits such a charge. Link to comment Share on other sites More sharing options...
Amerikaner83 Posted April 17, 2008 Report Share Posted April 17, 2008 Um...no that's not true. Find where it says so in the FDCPA. It doesn't - sorry.If it were true, then there would not be any CA charging interest or fees or anything. Link to comment Share on other sites More sharing options...
smurfette in nyc Posted April 17, 2008 Author Report Share Posted April 17, 2008 Well, I found that info on this site, #14:http://www.privacyrights.org/fs/fs27a-debt_collection.htmThen, I found this info for my home state. I'm in shock about 16% interest!STATE: NEW YORKINTEREST RATE Legal: 16% Judgment: 9% STATUTE OF LIMITATIONS (IN YEARS) Open Acct.: 6 Written Contract: 6 Domestic Judgment: 20 (1 0 yr. renewable lien) Foreign Judgment: 20 (1 0 yr. renewable lien) BAD CHECK LAWS (CIVIL PENALTY) Face value of check plus two times check amount up to a maximum of $400 on NSF or $750 on "no account" (Demand prescribed by law). GEN.OB.1.1-104 GENERAL GARNISHMENT EXEMPTIONS 90% of earnings, except 1st $127.50 wk. wholly exempt. COLLECTION AGENCY BOND & LICENSE Bond: No License: No Fee: No Buffalo: $5,000 Bond - $50 fee NYC: License - $150 - 2 yr. fee Link to comment Share on other sites More sharing options...
Amerikaner83 Posted April 17, 2008 Report Share Posted April 17, 2008 Well, I found that info on this site, #14:http://www.privacyrights.org/fs/fs27a-debt_collection.htmOK - THIS is the actual question, and it's a little different than what you posted.14. A debt collector says I owe fees that are almost as much as the original debt. Is this allowed?(emphasis mine)The way I read it with the way you worded your original post led me to believe "any amount greater than your debt" meant just that - any amount total greater than the debt.The question is referring to interest and collection costs - which are based on State Usury interest limits, I do believe.EDIT: I realize that's what you posted, but the thread title misled me a little bit - sry Link to comment Share on other sites More sharing options...
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