/ Register

interest accumulation on bounced ck

Discussion in 'Credit Talk' started by shameen29, Jun 3, 2003.

  1. Jun 3, 2003 #1
    shameen29

    shameen29 Well-Known Member

    Can a collection agency accumulate interest on a bounced check?

    Thanks
     
  3. Jun 3, 2003 #2
    chrisb

    chrisb Well-Known Member

    I would check your state laws on bounced checks, they would tell you the fees that are allowed to be charged. I am pretty sure they can charge a set fee set by the state over the amount owed, but don't think that interest can legally be charged, since there's original contract or agreement.

    Do a search on your state's government web site.

    ChrisB
     
  4. Jun 3, 2003 #3
    shameen29

    shameen29 Well-Known Member

    thanks
     
  5. Jun 5, 2003 #4
    lbrown59

    lbrown59 Well-Known Member

    Can a collection agency accumulate interest on a bounced check?
    shameen29
    ==================
    A better ?
    Is the claim legit?
     
  6. Jun 5, 2003 #5
    lbrown59

    lbrown59 Well-Known Member

    but don't think that interest can legally be charged, since there's original contract or agreement.
    chrisb
    ***********************
    If it could be charged they could hold off contacting for payment for years just to drive up the pay off.


    THE END ** *** ** LB 59
    """""""""```~~~```'"""""""""
     
  7. Jun 5, 2003 #6
    GEORGE

    GEORGE Well-Known Member

    I "THINK" CALIFORNIA had a deal of 3 X the face value + $50 with a min of $500...I could be wrong...(NOT A BOUNCED CHECK EXPERT)

    I DON'T THINK ANY INTEREST CAN BE CHARGED...
     

Share This Page