CAN DEBT COLLECTORS CHARGE INTEREST ON PURCHASED CREDIT CARD DEBT?
I would similar to to know if seductiveness can be charged. It wasn’t ostensible to be in a past though with a enlarge of purchased debt it seems debt collectors have been creation their own manners as they go.
I am utterly up to speed with all solely laws surrounding credit cards. Can any one assistance out?
Links have been really most appreciated also.
(and no, it’s not for me so no personal opinions on being in debt as we do not need which recommendation – Serious answers to a subject usually please)
This is a NSW matter.
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Categories: General Debt Help
There are many factors involved when it comes to this situation. This includes your state laws.
They CAN if the charge is expressly provided for in the contract creating the debt and the charge is not prohibited by state law, or the contract is silent but the charge is otherwise expressly permitted by state law.
They CAN NOT if state law expressly prohibits collection of the amount or the contract does not provide for collection of the amount and state law is silent.
If state law permits collection of reasonable fees, the reasonableness (and consequential legality) of these fees is determined by state law.
You would have to read the fine print included in the "terms of agreement" that was sent along with the credit card.
Sorry I can not provide links without knowing which state you reside in.
Hope this helps answer your question
NOTE: This communication is not intended as and should not be interpreted as legal advice but is intended solely as a general discussion of legal principles. By reading the "Response" to your question or comment, you agree that the opinion expressed is not intended to constitute legal advice to any person reviewing such information..