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

In Washington, debt collectors may charge interest or late fees on a consumer’s debt if the debt collector has written permission from the consumer. According to Washington’s Consumer Debt Defense Law, debt collectors must state in writing how much interest or late fees they intend to charge, and the consumer must give written approval before the debt collector can impose them. If the debt collector does not have written permission from the consumer, they are prohibited from charging interest or late fees. Additionally, the debt collector cannot use any form of abuse, harassment, or false statements to collect on the debt and must follow all Fair Debt Collection Practices as outlined by the Washington State Office of the Attorney General. Debt collectors are not allowed to charge more than the amount of interest or late fees that the original credit issuer allowed. If the debt collector does charge more, a consumer may have the right to have the debt collector waive the additional amount. Consumers should remember that debt collectors can charge interest, if given permission, and late fees for overdue payments. It is important to understand the terms of the debt and follow the laws of Washington’s Consumer Debt Defense Law to protect one’s rights as a consumer.

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