AboutMike Weikle Expertise Banking Lender Liability; Insurance Coverage; Consumer Rights; Bank Fraud; Criminal: White
Collar Crime; Fair Debt Collection Practices Act; Directors and Officers Liability
Experience Commissioned National Bank Examiner 7 years; President of Two Community Banks; Division Claims Specialist for American Bankers Association Sponsored Insurance Program; Carter Member of the Bank Fraud Team of the Office of the Comptroler of the Curency "OCC" (National Banjk Examiners); Attorney previously representing FDIC and Resolution Trust Corporation as well as consumers and commercial borrowers in claims against the banking industry; Former Data Processing Systems Examiner for the OCC; Expert Witness on variety of banking issues in both state and federal court.
Education/Credentials Certified Public Accountant;
JD -- West Virginia College of Law - Order of the Coif
Data Processing Training Old Dominion Bank and IBM
Question QUESTION: Where can I obtain a listing of maximum allowable collection fee by each state?
ANSWER: To answer the question, I need to know what type of collection fee you want this information : credit card, installment loan, check collection or .... before I can tell you if there is a central collection point for this type of information for all fifty states.
Does the collection fee involve a state or federally chartered bank or does it involve a retail type of collection such as a department store account?
Please clarify.
And, thanks for writing, I hope with additional clarification of the subject matter of the collection I will be able to answer the question to your satisfaction.
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QUESTION: Thanks for your response. This involves private education installment loan collectin.
Answer Is there a written contract for the student loan?
Is it a federally insured student loan?
Is the collection being made by the private school that is collecting a student loan it made to you, a friend or a relative?
Is the collection being done by a third-party collection agency unrelated to the lender?
In what state did the collection originate?
Are you located in the same state?
What does the loan agreement say with respect to collection fees?
