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If a jdb buys an installment loan that was chaged off, what can they collect ? The amount that was charged off ? Or that + continued interest as if the contract was in effect ?
Taking of a charge-off is an internal accounting measure that does not affect the continued debt obligation for the full amount of the debt.
Thus, the creditor or their heirs to the debt can continue to collect the full amount of the debt.
FDCPA 808(1) permits a debt collector to attempt to collect additional amounts, such as fees and interest, provided the contract that created the debt includes a specific authorization for the added amount, or the amount is permitted by law.
OC contracts usually include such authorizations.
Review your original contract with the creditor for any such authorization.