They just keep adding penalties and interest
Date: Thu, 03/08/2007 - 09:16
In 1999 I took out a credit card. My credit history was very good with them so they raised my credit limit to $3,350. I am disabled and had financial problems due to Workers Compensation not paying and Long Term Disability stopping my payments for a 10 month period and I got behind. The company has closed my account and I have since paid them all total so far $10,397.00 for a credit card that was initially $3,350 and they are still asking for another $2,802. In approximation, over 80% of this is penalties and interest they have added on monthly. I can't make headway. They have also raised my interest rate from 11.9 to 34.8. Where do I turn to get this resolved? My other credit is great now that I have won my Workers' Comp case and I am collecting Social Security except for this one and I don't feel that these people should keep gouging me
Stop paying them. Let it go past due and charged off. It will th
Stop paying them. Let it go past due and charged off. It will then eventually go to collections. I gaurantee you can settle for around half with the bill collector. Just save money every month into you savings instead of you paying them. By the time it goes to collections ( which takes 3-6 months ) you should have enough to settle for around half.
Am I understanding this correctly - You have paid close to 7k on
Am I understanding this correctly - You have paid close to 7k on a 3400.00 bill?
