munee
New Member
Posts: 1
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Post by munee on Feb 29, 2008 16:51:50 GMT -5
looks like I'm one of the first members! ;Di just read your credit repair article. its good. Anyway, I'm in the middle of negotiating with a collection agency for an old credit card that I had back in college. I think the limit on the card was only $300 but with interest and late fees the balance is now over$700  worse yet i completely forgot about card until the bank pulled my credit for a car loan the other day. is there anyway to get all of the late fees removed? I think that it wrong that they can more than double the original balance on the card with d**n fees thnks |
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Post by Ben Dinsmore on Feb 29, 2008 17:26:54 GMT -5
Thanks for stopping by! Yeah, just started this yesterday so we have a ways to go to build up membership!
About your credit card. This is one of the problems with the industry, they tack on HUGE penalty fees that only get worse year after year!
ANd if you forget about an account, or just can't pay it you can get hammered. However, this is one of the reasons CA's are so eager to settle for less than the balance owed because some or most of the balance is already bogus fees to begin with. instead of fighting them to have the fees removed, consider them in your settlement offer. If you haven't yet, offer them 40 cents on the dollar and see what they say! Good luck!
hope this helps, tell your buddies about us!
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mom
New Member
Posts: 7
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Post by mom on Mar 5, 2008 9:59:38 GMT -5
Oh that stinks! I'm sorry that happened. I don't have anything to add to Ben's response but I am curious to hear the outcome. Keep us posted!
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