Re: Defaul fee assessment

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Dear Debbie,

I read your message. What is the difference between
a "default fee" and a "late fee"? Seems like they are one
and the same thing to me. Maybe I am wrong. From what you
post here, does not look to me as if you can charge either
one, not based on what you have posted here. Looks to me as
if you have to be enforcing the note through probate,
bankuptcy or other judicial proceeding before you can
charge "all costs of collection or enforcement." Of course,
you may not have stated all of the relevant parts of the
contract. Be careful about the Fair Debt Collection
Practices Act! I hear that there is a group of people that
are using that Act to really crack down on bill collectors
and even attorneys attempting to collect debts and who are
plowing some new ground and even putting some businesses
and/or lawyers out of business. I do not know if that is
true or not, but I heard it recently from one of the guys who
is involved in that "movement"; and he sounded pretty
confident about what he and his confederates were doing.
What he told me is enough to make me want to get that Fair
Debt Collection Practices Act down and read it with a
magnifying glass so that I might not run aground of the law
in my practice, part of which includes collections. Best of
luck!

Sincerely,

Hardy Parkerson, Atty.
Lake Charles, LA

On 5/25/03, Debbie wrote:
> Can I assess a default fee for collections for late
> payments as well as the late fee? The 'Real Estate Lien
> Note' states this: If this note or any instrument
> securing or collateral to it is given to an attorney for
> collection or enforcement, or if it is collected or
> enforced through probate, banruptcy, or other judicial
> proceeding, then Maker shall pay Payee all costs of
> collection and enforcement, including reasonable
> attorney's fees and court costs in addition to other
> amounts due. Reasonable attorney's fees shall be at the
> rate of $200.00 per hour.
> We do have to pay someone for collections every time a
> payment is late. Does that apply? We are an L.L.C in
> Texas. Thanks

Re: Defaul fee assessment, 5/25/03, by Hardy Parkerson, Atty..

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