Can a debt collector charge interest or late fees on my debt?

In Nevada, a debt collector cannot charge any interest or late fees on a debt that is being legally disputed. However, if a consumer does not dispute the debt before the debt collector has made a demand for payment, then interest or late fees may be applied. This is according to Nevada’s consumer debt defense law. The debt collector must provide the consumer with a notice stating that the debt is no longer subject to interest or late fees when they have received a written dispute from the consumer, or within 5 days of when the dispute occurred, whichever is later. The debt collector can also choose to waive any interest or late fees they may have applied to the debt prior to receiving the consumer’s dispute. If the consumer and the debt collector come to an agreement, the debt collector is not allowed to charge any interest or late fees. This agreement must be in writing and must be signed by both parties. If the consumer and the debt collector are unable to come to an agreement, the consumer may choose to seek legal assistance. A qualified attorney can help the consumer dispute the debt and the interest or late fees that may have been charged. Taking legal action is the consumer’s best option to resolve the dispute.

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Can a debt collector charge interest or late fees on my debt?

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