are credit companies entitled to add interest once a debtor is black listed?
2006-09-16 06:46:47 · 8 answers · asked by jlb 5 in Business & Finance ➔ Credit
The question by the way is not for me.
2006-09-16 07:10:16 · update #1
Let me be the one to clear up this silly rumour. There is no such thing as a credit blacklist, you credit score is determined on your credit history etc. I know this as I have worked in the business for 7 years. If you need any advice check with Equifax, Experian or Callcredit. Hope this helps!
2006-09-17 23:59:32 · answer #1 · answered by richardwales79 3 · 0⤊ 0⤋
Sure, blacklisting doesn't forgive the debt. Interest continues to accrue on the unpaid balance for as long as it exists. Blacklisting is just a way of warning other credit agencies that you are a deadbeat.
2006-09-16 13:48:31 · answer #2 · answered by Anonymous · 0⤊ 0⤋
You are paying interest on the interest if you don't pay nothing to do with the blacklisting .
2006-09-18 09:48:56 · answer #3 · answered by Anonymous · 0⤊ 0⤋
if you are in the UK then yes . Unless you are declared bankrupt or enter into an IVA then they have every right. Whether they will see any of the money is a different question
2006-09-16 13:48:48 · answer #4 · answered by Bailey P 2 · 0⤊ 0⤋
All credit companies are b astards
2006-09-16 13:56:41 · answer #5 · answered by ali k 2 · 0⤊ 0⤋
Yes! Not very pleasant!
2006-09-16 14:52:48 · answer #6 · answered by Peacelilly 2 · 0⤊ 0⤋
yes
2006-09-16 13:53:58 · answer #7 · answered by gabby 5 · 0⤊ 0⤋
badluck.
2006-09-16 14:04:06 · answer #8 · answered by red beret 4 · 0⤊ 0⤋