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?
2 Answers from Attorneys
Re: Collection attorney
interest can run until the date of payment.
Re: Collection attorney
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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.
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