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Will interest accrue after SOL period of a credit card?

Submitted by Pamply on Sun, 02/07/2021 - 21:27

I have a credit card with a balance of about $500. I found out that the SOL period has just expired. Will the interest continue to get added to the balance? Will it help to improve score if I repay the debt?

As David said, the interest amount will continue to accrue. But since the SOL period is over, you are not legally bound to repay that debt. However, you can make that payment to improve your credit score.

Mod note. Making payments on a charge off with not improve your score.

Submitted by Craigh.terry on Mon, 02/08/2021 - 05:02


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