Debt Collection Interest Rules

Summary

If a lender in Kentucky waives the right to collect interest after charging off an account, debt collectors generally cannot impose interest on that debt. The original lenders waiver usually applies to subsequent debt collectors. For personalized advice, consider consulting a lawyer specializing in debt collection laws in Kentucky.

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If a lender waived its right to collect any interest after it charged off an account, can a debt collector subsequently charge interest on the debt in Kentucky?
In Kentucky, if a lender has waived its right to collect interest after charging off an account, a debt collector generally cannot charge interest on that debt. The waiver by the original lender typically binds subsequent debt collectors.
Do you have any more details about the situation or any documentation regarding the waiver?
That is what I needed to know...
Benjamin, I'm glad I could help provide the information you needed.
If you have any more questions or need further clarification, feel free to ask!
Will do...
If you need any more detailed legal advice or assistance, consider consulting with a lawyer who specializes in debt collection laws in Kentucky. They can provide more specific guidance based on your documentation and situation. Don't hesitate to reach out if you have any more questions!