Credit Tips: Charged Off Credit Card Account Tips

Posted On: February 1, 2006

Author: Confused
Posted: Fri Jan 30, 2004 2:59 pm
Post subject: Charged Off Credit Card Account Tips

I have an account that was charged off a couple of years ago. It was turned over to company A. Before I could set up any payment arrangements, it was turned over to company B. I made arrangements with company B to pay off the balance. I set up a $50/month bank draft. Initially when speaking to company B, they informed we that the balance was $1100. Every month after my payment they would send me a statement showing my balance. I finally got down to $275. I called company B to just pay that amount off, but I was told that Company A took the account back over and I would have to call them. I called company A to pay the $275 and was told that the payoff was now $588. Company A stated that the additional $300 was interest. Is this legal? I was receiving monthly statements showing my balance and this was never included?

Author: Guest
Posted: Sun Feb 01, 2004 7:31 pm
Post subject: Charged Off Credit Card Account Tips

Why are you dealing with Company A of Company B? You don’t have to deal with collection agencies…I would tell Company A to cease and desist and get the original creditor to resolve your balance.