Corporate Law Business account has been sent to collection over monies that I do not feel I owe

[wtemple87r]

My business has a supplier that continuously tacked on late fees and interest although no agreement for late fees and interest was ever signed. The interest and late fees my business is being charged have accrued due to my payments having been mis-applied (to their late fees first rather than the invoices that I stipulated to pay with my check payment). Also late fees have been tacked on due to a credit that I feel I am due, but that was never applied to my account. Now this business has sent my account to collection, and are threatening me and my business with negative reporting to the credit agencies. Can interest and late fees be charged when no agreement has been signed, and what should I do now?

 

[army judge]

Yes, they can be charged. No, you don't have to pay. But, eventually they'll sue you and ding your credit. This is the time to negotiate and settle. Otherwise, this problem will hurt you dearly.