Oregon Statutes - Chapter 697 - Collection Agencies; Check-Cashing Businesses; Debt Consolidating Agencies - Section 697.115 - Fee for collection of commercial debt; amount; limit.

(1) As used in this section, “commercial debt” means any obligation for payment of money or thing of value arising out of an agreement or contract, express or implied, in which the transaction that is the subject of the agreement or contract is not primarily for personal, family or household purposes.

(2) A person using a private collection agency to collect a commercial debt owed to the person may add a reasonable fee to the amount of the commercial debt, payable by the debtor, to compensate the person, in whole or in part, for the collection agency fee incurred or to be incurred. A person may not add a fee under this section that:

(a) Exceeds the collection fee of the private collection agency; or

(b) Was not authorized in the agreement or contract creating the commercial debt. [2003 c.66 §2; 2007 c.204 §2]

Section:  Previous  697.094  697.095  697.098  697.100  697.105  697.110  697.111  697.115  697.120  697.130  697.140  697.145  697.146  697.150  697.160  Next

Last modified: August 7, 2008