increasing past due balance help

[Anonymous]

Does anyone have an account that has been charged off where the past due balance increases every month?

[Anonymous]

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@Anonymous wrote:
Does anyone have an account that has been charged off where the past due balance increases every month?

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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

[RobertEG]

As long as the creditor maintains the account, even if charged off, they are entitled to continued interest on unpaid debt.

[Anonymous]

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?

[IOBA]

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. 

[QueenBean]

That doesn't sound right to me, the debt is either charged off, or it is carried and reported as 120+ days late.  I can't imagine that any company writes off bad debt monthly.

[AndySoCal]

The amount fo the charge off amount should not change the balance and the past due amount can change yes.  For example let us say you owed $200.00 when the account was charged off. The amount the credit charged cannot change they can continue add interest to the balance and the past due amount yes.