This was held to be a violation of the FDCPA. “Because [the original creditors] waived interest, Asset could not retroactively impose interest for the period in which it did not own the accounts.” “Further, Asset purchased the debts subject to the waiver, thereby precluding Asset from imposing interest or revoking the original creditor’s waiver”. Thus, Asset violated Sec. 1692e(2)(A) and 1692f(1).
Also worth noting, it appears that the violation occurs upon the filing of the state court action, and the statute of limitations on the violation is 1 year from that date.
BOTTOM LINE…. EITHER REVIEW THE DEBT-PURCHASER’S PURCAHSER’S AGREEMENT TO SEE IF WE CAN COLLECT INTEREST POST-CHARGE-OFF, OR (BETTER YET), DON’T CLAIM INTEREST FROM THE DATE OF CHARGE-OFF!!!