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Press Release - Wyoming Collection Agency Board vs. Abby Shadakofsky Settlement Agreement Attorney General Opinion - Convenience Fees - March 15, 2010
The Collection Agency Board requested an opinion from the Office of the
Attorney General regarding
whether collection agencies operating in Wyoming are authorized to charge a
convenience fee to Wyoming debtors.
The
Opinion discusses the convenience fee issue and determines that, "since
a convenience fee is not
authorized by Wyoming law, a convenience fee may only be charged to a debtor
if the debt arose in a non-consumer credit transaction and if the underlying agreement
creating the debt expressly provides for
such fees."
Attorney General Opinion - 99-010 - October 6, 1999
By letter dated August 27, 1998, the Collection Agency Board requested an
opinion regarding the
application of Wyo. Stat. § 40-14-101 through 40-14-702, the Wyoming
Uniform Consumer Credit Code (the "Code"), to certain practices of
collection agencies governed by Wyo. Stat. § 33-11-101 through 33-11-116,
the Wyoming Collection Agency Act (the "Act"). The Collection
Agency Board (the "Board") has
promulgated regulations to aid in the administration of the Act (the
"Regulations). The letter poses three
specific questions:
1. In collecting on a debt arising out of a consumer credit transaction,
may a collection agency collect from
the consumer any portion of the commission or other fee charged by the
collection agency to the creditor for its services in collection of that
debt?
Answer: No. Even if the debt agreement provides that the
creditor may collect its costs of collection
(including any commission or fee charged by the collection agency), neither
the creditor nor the collection
agency may collect any default charges unless they are specifically allowed
under the Code.
2.
In collecting on a debt arising out of a consumer credit transaction, may a
collection agency collect from
the consumer any fees that are permitted to be charged to the consumer under
the debt agreement, even if
the creditor has not assessed the fees?
Answer: No. Generally, unless the collection agency agreement
specifically provides otherwise, the creditor must determine the amount of the debt to be collected, not the agent.
The creditor, however, may assess any charge that is allowed under the contract and also allowed under the Code and
other applicable law.
3.
Is Section 11(a) of Chapter 4 of the Regulations in conflict with the Code?
Answer: No. Section 11(a) of Chapter 4 of the Regulations is
drawn nearly verbatim from the federal Fair
Debt Collection Practices Act and should be interpreted consistently with its
federal counterpart.
Feds Set Rules for Collectors Calling on Relatives of Deceased Debtors. Collecting is OK, but Must be Transparent, Guidelines Say. Article
published at Creditcards.com July 26,
2011
Newsletters o June 2001 Edition .pdf format o June 2002 Edition .pdf format o January 2003 Edition .pdf format o June 2003 Edition .pdf format o January 2004 Edition .pdf format
Press
Releases
Solicitations
for Collection Services - August 18,
2005 .pdf file
Informational
brochures
Consumer's Rights Under Wyoming
Statutes and Rules and Regulations .pdf format
Wyoming Collection Agency Board -
Information pertaining to the Board and to obtaining a license to operate a
collection agency in the State of Wyoming .pdf format
Federal
Trade Commission - Fair Debt Collection Practices Act
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