Reply
Senior Contributor
Posts: 3,071
Registered: ‎05-17-2007
0

Are CA's allowed to increase the original amount due? Processing, Late charges, ect..

?
If we never set higher goals we would never get as far.
sol, credit 101, acr, abbreviations, calc
Moderator Emeritus
Posts: 16,383
Registered: ‎03-12-2007
0

Re: Are CA's allowed to increase the original amount due? Processing, Late charges, ect..

Yes, as far as interest goes, but each states has it's own statutes (and limits).
Credit Profile -
FICO 08 Scores (03-26-2015): EQ 814, EX 817, TU 822
All three scores were 850. Lost points for not having an open installment TL. So, BE WARNED!!!!!
Credit History: 26 years ~ AAoA: 13 years ~ Util: 1% ~ Inqs: EX 1, EQ 1

Credit Cards: Amex BCP ~ Amex Clear ~ Amex Platinum ~ Barclay Ring Mastercard ~ Chase Freedom Visa ~ CITI Dividend Platinum World Mastercard ~ FIA Fidelity Investment Platinum Visa ~ First Hawaiian Bank Gold Visa
Senior Contributor
Posts: 3,071
Registered: ‎05-17-2007
0

Re: Are CA's allowed to increase the original amount due? Processing, Late charges, ect..

Thanks. Smiley Happy
If we never set higher goals we would never get as far.
sol, credit 101, acr, abbreviations, calc
Moderator Emeritus
Posts: 9,252
Registered: ‎03-19-2007
0

Re: Are CA's allowed to increase the original amount due? Processing, Late charges, ect..

Yes and no-  
FDCPA-
 

§ 808. Unfair practices

A debt collector may not use unfair or unconscionable means to collect or attempt to collect any debt. Without limiting the general application of the foregoing, the following conduct is a violation of this section:

(1) The collection of any amount (including any interest, fee, charge, or expense incidental to the principal obli

gation) unless such amount is expressly authorized by the agreement creating the debt or permitted by law.

 
 
Valued Member
Posts: 43
Registered: ‎01-09-2008
0

Re: Are CA's allowed to increase the original amount due? Processing, Late charges, ect..

how about if they sell that debt to another  CA or JDB.. say that the OC is owed $100. they charge off and CA now says you owe $200, then they sell and the next one says you owe $300 etc.   by the time all is said and done one could owe like $500 on an original $100 debt. right??? 
Moderator Emeritus
Posts: 9,252
Registered: ‎03-19-2007
0

Re: Are CA's allowed to increase the original amount due? Processing, Late charges, ect..

It has to be in the contract and/or with in the laws of where you reside.
 
They MUST be able to account for the balance they are collecting- another good reason to DV.
You are entitled to how they calculated the amount owed.

tabbycat72140 wrote:
how about if they sell that debt to another  CA or JDB.. say that the OC is owed $100. they charge off and CA now says you owe $200, then they sell and the next one says you owe $300 etc.   by the time all is said and done one could owe like $500 on an original $100 debt. right??? 



Highlighted
Regular Contributor
Posts: 217
Registered: ‎06-19-2008
0

Re: Are CA's allowed to increase the original amount due? Processing, Late charges, ect..

be careful...I had a charge card...I think hsbc, maybe...
it was 3/5hundred...late charges overlimit...attorney bought it right away and sued me and garnished wages...ended up paying something close to $1500...garnished about $200 every two weeks...
6/30/08 TU 441 EQ 425 EX 513
8/01/08 TU 499 EQ 488 EX 489
8/23/08 EQ 556
9/04/08 EQ 567
11/14/08 TU 531, EQ 582, EX 509
12/29/08 EQ 620 (yea!) EX 546 TU 555
1/17/2009 TU 568 EQ 620 EX 584, 4/15/09 TU 506, EQ 612
5/24/09 TU 558, EQ 646
Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
† Credit cards for FICO Score ranges: The score ranges are guidelines based on actual applicant approvals and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.