hey stacey s

Companies can only charge you interest if you agreed to it some where in a contract. You need to ask them for that contract.
Also, you need to ask the collection agency by which contractual agreement they're collecting you. ie.. you must authorize the original creditor to use a collection agency.

There is no law that says you have to deal with a collection agency, thus, every thing must be done by contractual agreement.

Collection agencies are government by provincial Justice Department consumer protection.

Which province are you in?

Please let us know when you find out, why the collection agency thinks they can charge you that kind of interest.

Finally,
If you do legitimately owe the interest that they're alleging, try to negotiate a settlement on that amount. ie.. instead of paying the $1468, tell them you're willing to settle for half that amount.

You don't know until you try!

Let us know how it goes.

I have been clearing up my credit report.........long drawn out process........ugghhhhhhhhhhh........almost done..........I have a UP showing on my report from Loaylist collections......the original debt was 1113$ they want 1468.79$ to clear it...........I was only made aware of this debt when I applied for a mortgage......from what I hear from other people that an agency will have a settlement amount that is lower than original debt.....I am willing to pay original amount however due to their lack of notification I refuse to pay the interest on it......I also have a an inquiry alert from CDN Bonded credit...........I just called them and talk about rude people.......told them they have no right to go into my credit report then they tell me there is a debt in my name that my ex husband made for 513$ after we were separated 6 years ago.........what can I do in both situations