@kidd2872 wrote:
I was just wondering if someone could answer this question? I have a credit card that has been in collection with a law firm. I have been making payments of $350.00 a month for eight months now on a referred balance of $4600.00. I was told by the law firm that the credit card company still tacks on interest of 14.65% while I am making payments.Is that even legal? or is it the law firms charge? I was under the impression that if a credit card goes to a collection law firm the account is dead to that peticular credit card company and the law firm is just trying to get back what they can? Could someone PLEASE shed some light on this picture for me.....I feel as though I am being taken advantage of? I want to pay them back but I originally only owed them 3500.00 and with all the late fees and interest I have already paid and now there's more interest on top of that...It seems like a scam?
I can't tell you what the law say I'm not qualified for that. It may depend on if the original credit charged off your debt then sold it to the vultures. Typically when the bottom feeders pile on, it means your debt was sold to the bottom feeder, sometimes for pennies on the dollar, and thus the original creditor has nothing to do with it anymore. In this case the bottom feeder is just getting all they can out of you. But I can't say what is going on here obviously.
Are you making any headway with this thing or does the debt never really go down thanks to interest/fees/etc while you pay a lot of money on it? So far you've paid about 3000 dollars on it, if you haven't put a big dent in the debt, something is wrong.
FICOS 2/2012 EQ: 763 TU: 761 EX: 746 (1/2012 EX)
Cards: Associated Bank Visa 9000, Paypal Mastercard 3000, Amazon Store card 1100, Barclays Apple Financing 2500, Cap One Rewards Mastercard 3000
