credit card
Date: Tue, 06/15/2010 - 05:25
I made an agreement with collection agency to pay 100 a month, But now I see that out of 100 only about 15 is being actually paid to bill. Can I just quit paying.
What type of bill are you paying? Payments are applied to int
What type of bill are you paying?
Payments are applied to interest first then principal. Depending on your balance, not much may go to principal.
Sure you can quit paying but what are the consequences? The bill wont go away and you could end up being sued in court....if they get a judgment against you, they could end up garnishing your wages up to 25%
