Legally the CA can charge whatever interest that was in the original contract/cardholder agreement-
There is no way to get out of paying the interest-
You can try and negociate a lower rate--
julieb wrote:
hello, is there a way to stop interest from accruing on an account that is in collections? I am paying $150.00 a month on an old debt and I just realized that I am still being charged 24.99% interest, so only roughly $64.00 is being applied to the principal. There must be a way to get away from that without having to pay the debt off in one shot which I cannot afford to do. Any help would be greatly appreciated.
JB
