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@rob22 wrote:
Does anyone have an account that has been charged off where the past due balance increases every month?
Hi rob,
Can you give us the who, what , when, where and why on this? With more detailed information we might be able to offer some insight.
Cheers!
CB
This is not added interest. The original charged off amount stays the same.....it's almost like someone is calculating the missing payments ( in other words what would normally have been due each month if the account had not been charged off)
Each month the charged off balance is the same but the past due amount increases. It is getting close to the past due balance equaling the charge off total.
Is this unusual for the creditor to do this?
That doesn't sound right. Will you provide more information? If we know who the creditor is, we might be able to give more insight.
Whomever owns the debt can add interest.