Help!!!! huge interest rates

Date: Sat, 03/08/2008 - 16:13

Submitted by anonymous
on Sat, 03/08/2008 - 16:13

Posts: 202330 Credits: [Donate]

Total Replies: 7

I started a business on credit, im 20 years old and in college, the business failed. being a college student i can only afford to pay 200 per month. i fell behind, now they are charging me a huge interest rate and 250 per month in fees. it is impossible for me to pay this debt/ and they wont do anything for me. my phone rings off the HOOK!!! Can they keep charging these fees??? the debt was pased to a outside company and they claim there is nothing that can be done with the interst and late fees.

What kind of credit did you use to start this business? Cards? B

What kind of credit did you use to start this business? Cards? Bank loans?

lrhall41

Submitted by unclewulf on Sat, 03/08/2008 - 16:32

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Any chance this was a CashCall Loan? It sure sounds like their

Any chance this was a CashCall Loan? It sure sounds like their sort of interest rate. :evil:

lrhall41

Submitted by SUEBEEHONEY70 on Sat, 03/08/2008 - 17:38

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cards

i started the business with both personal and business credit cards

lrhall41

Submitted by on Mon, 03/10/2008 - 10:05

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DOH!!!! -You WHAT??? :shock: Started a business on Credit

DOH!!!!

-You WHAT??? :shock:

Started a business on Credit card withdrawls!!!!
----and i thought i heard it all!----
OMG, i guess i'm not as bad as some others are! :lol:

lrhall41

Submitted by on Mon, 03/10/2008 - 15:51

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I assume the outside company was a debt collection company of so

I assume the outside company was a debt collection company of some sort. If you can't negotiate with them, then you may have to get professional help, maybe someone from this forum

lrhall41

Submitted by dbcoders on Tue, 03/11/2008 - 08:44

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Have you considered bankruptcy?

lrhall41

Submitted by Morningstar on Tue, 03/11/2008 - 10:38

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Huge interest rates

How much is this debt and if I may ask with whom? If you do not feeling comfortable posting it-search them on this forum and see how others here have dealt with them. It is pretty likely that someone else here has had to deal with the same company you are dealing with.

Good luck!

lrhall41

Submitted by girlndebt on Thu, 03/13/2008 - 16:42

( Posts: 151 | Credits: )