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Regular Contributor
Posts: 143
Registered: ‎05-29-2008
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Question about closed CC...

I have a Cap1 card that I closed in Nov 06 when I defaulted on it. At that time, the balance was $1600. Currently, the balance is $3500!!! I defaulted on 4 CC's, and they are the only ones that continued to post outrages fees and finance charges after the accounts were closed. Can they do this?
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Posts: 6,794
Registered: ‎09-29-2007
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Re: Question about closed CC...



Laurenlou wrote:
I have a Cap1 card that I closed in Nov 06 when I defaulted on it. At that time, the balance was $1600. Currently, the balance is $3500!!! I defaulted on 4 CC's, and they are the only ones that continued to post outrages fees and finance charges after the accounts were closed. Can they do this?



Yes, they can do this.  Closing a card does not prevent interest and/or late payment fees from accruing.
 
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Valued Contributor
Posts: 2,374
Registered: ‎03-15-2007
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Re: Question about closed CC...

Unfortunately, they can do this...sometimes I think CCCs actually want people to file BK.
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