Debtconsolidationcare.com - the USA consumer forum

Forums
  • Latest topic

Question on Over the limit Charges for 2 years

Date: Fri, 05/05/2006 - 09:45

Submitted by krispy1997
on Fri, 05/05/2006 - 09:45

Posts: 16 Credits: [Donate]

Total Replies: 3


Hi I have a question about over the limit and late fee. I had 3 accounts with Capital one. All 3 are with collection agency and 2 have been settled. The last one I'm paying the collection agency $100.00 a month.Amount due is $3,321.16 orginial amount from 1/1/01 due is only $1,200. account on CRA say opened 1/1/01 amount due 2,600 (credit limit was $1,100.)I was going over my OLD mail and found CO invoices. Can they charge OTL fee,late fees and interest for 2 years? I undersand interest ,But OTL and late fee when I couldn't even use the card. Why didn't they close it like the other 2? Is there anything I can do? I'm pretty sure I'm just stuck paying this.:-(


Hi krispy

Call up the original company and try to work out an arrangement with them. If they have not sold the account to the CA, they can receive payments from you and you won't have to deal with the CA.

Explain the situation to the OC and negotiate with them for the late fees charged on your account. If you have been paying them regularly, it will be possible to get the fees waived off.


lrhall41

Submitted by david on Fri, 05/05/2006 - 11:51

( Posts: 1229 | Credits: )


CA's can charge interests and fees if it has been mentioned in the contract you signed with the original creditor. It might be possible that the company charges late fees till the account gets paid in full. At this point, if it is still with the original creditor, you can make arrangements with them and negotiate for the charges. You won't have to pay anything to the CA if the creditor can accept payments from you.

In case, the account has been sold to the collection agency, you must read the agreement contract and go through this point.


lrhall41

Submitted by curlycarl on Sat, 05/06/2006 - 12:42

( Posts: 616 | Credits: )