Can Debt Collectors Legally Charge Interest?

Published on:
17 July 2014 at 08:05 a.m. ET

Written by: John Rossman – Member – Rossman Attorney Group, PLLC

http://www.insidearm.com/news/00022543-can-debt-collectors-legally-charge-intere/

Numerous recent FDCPA lawsuits challenge the ability of debt collectors to assess interest to accounts. These cases focus on a number of factors including whether collection letters need to disclose the accrual of interest and also interest on purchased accounts.

Most recently, a California Court held that interest could only be assessed in certain circumstances after a judgment had been entered.

In the latest episode of the Debt Collection Drill podcast, Attorneys John Rossman and Mike Poncin tackle the intricate issues involved with collection agencies assessing interest and provide an assessment of strategies to comply with the law.

Listen to the 13-minute audio clip below: