Re: Auto charge off keeps increasing
02-13-2012 05:42 AM
They absolutely can unfortunately. I had a Citi acct that went from 5500 to 7500. They can even continue interest once a payment arrangement has been set up but they usually don't as long as it's a fairly quick payoff payment arrangement.
+1, On your auto loan contract will state the interest they can charge. Also check you state laws for the maximum interest they can charge.