Can a debt collector add interest or additional charges to my debt?

In Washington, a debt collector is legally allowed to add interest to or charge additional fees on the debt they are trying to collect from you. Interest and fees can be added to the amount of your original debt. Interest is usually added in the form of a percentage rate. Additional fees can include late fees, service fees, and attorney fees. Debt collectors must follow certain regulations when it comes to adding interest and additional fees. In Washington, the interest rate for debts must be below the maximum rate of 12%. If a debt collector tries to charge more than the legally allowed amount of interest, the debt is considered invalid and the debt collector will not be allowed to collect the debt. There are also restrictions on when a debt collector can add additional fees. A debt collector must provide a written notice before adding any additional fees. This notice must include the type of fee and the amount of the fee. The debt collector is not allowed to add the fee until they have provided the written notice. It is important to stay up to date with the laws in Washington regarding debt collection. Knowing the regulations can help you protect your rights and understand how to best handle debt collectors.

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Can a debt collector add interest or additional charges to my debt?

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