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Posted in Paying Your Bills
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magicmom1

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interest due on medical bill
does anyone know...I paid off medical bills, now collection agency wants over a $1000 in "INTEREST". Do I legally owe this? it's form 3-25-10.

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There isn't a easy answer. It depends on couple things, do you still have the original billing/contract documents handy? It might stated the terms if you defaulted, if it doesn't specifically states any terms regarding the interest then it falls back onto your States's collection/consumer laws, and worse if your State doesn't have a clear guidance regarding the interest then it might be up to the debt owner's discretions...  However, it is the collection agency we are talking about here, they aren't exactly stickers for the rules, they certainly don't walk inside the lines, so you need do your own independent researchs and know your rights.

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