Yep, they slipped one by you. The North Carolina Collection Agency Act prohibits a collection agency or mortgage servicing company from collecting any fee or expense incidental to collection of a mortgage.
So, the $25.00 that you paid as a “transaction fee,” or “processing fee,” or whatever they want to call it, may be ILLEGAL.
Who is going to bring a legal claim for $25? You may ask. That is exactly what the collection agency is counting on, the consumer believing it is not worth filing a lawsuit over $25.00. But here is what the collection agency will never tell you, NC law imposes specific monetary damages for the illegal conduct.
If you have been charged a fee for paying your mortgage on-line or by phone, you may be entitled to bring a claim for violation of the North Carolina Collection Agency Act (NCCA).
Contact us at Miller Law Group, or call 919-348-4361 to learn more.