Lewiston, ID asked in Collections for Idaho

Q: Should I pay interest when trying to pay a debt collection in full on overdrawn bank account from June 2020?

I have a collection account from an overdrafted bank account and the balance shown on my credit report is what I assumed I would pay however the collection agency says there's almost $400 in interest to pay it in full. Since it wasn't a loan with a preset interest rate should I still have to pay the interest on this to pay it in full?

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1 Lawyer Answer
Barry W. Kaufman
Barry W. Kaufman
  • Collections Lawyer
  • Jacksonville, FL

A: In most states, prejudgment interest accrues as a matter of law on an unpaid balance. Whether this is true for Idaho, I don't know. You'd have to check Idaho law.

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