Legal Question in Credit and Debt Law in Florida

Collection attorney

Can a creditor continue to charge interest after a credit card is cancelled due to non-payment and is in collections?


Asked on 6/24/07, 10:34 am

2 Answers from Attorneys

David Slater David P. Slater, Esq.

Re: Collection attorney

interest can run until the date of payment.

Read more
Answered on 6/24/07, 10:59 am
Scott R. Jay Law Offices of Scott R. Jay

Re: Collection attorney

NOTE: This communication is not intended as and should not be interpreted as legal advice. Rather, it is intended solely as a general discussion of legal principles. You should not rely on or take action based on this communication without first presenting ALL relevant details to a competent attorney in your jurisdiction and then receiving the attorney's individualized advice for you. By reading the "Response" to your question or comment, you agree that the opinion expressed is not intended to, nor does it, create any attorney-client relationship, nor does it constitute legal advice to any person reviewing such nformation, nor will it be considered an attorney-client privileged communication. If you do not agree, then stop right here, and do not read any further.

Yes, they can and they do. Interest is charged until all money that was borrowed is paid. Interest runs on judgments as set by the state if a separate agreement does not set forth a different (read.... higher) interest.

Scott R. Jay, Esq.

Read more
Answered on 6/24/07, 11:32 am


Related Questions & Answers

More Credit, Debt and Collections Law questions and answers in Florida