I need help, I received a letter today from a collection agency stating that I owe $1800.00 and they are willing to settle for $1100. Here are my problems first of all I am unsure who the money is going to, and secondly if it is to the place I am thinking of which is Capital One. I had received a maximum limit from them of $300 which of course I fell behind on my payments and now they say I owe $1800 can they really charge that much extra in fees?
Veryconfused
2006-11-11 06:25:07 · 2 answers · asked by Anonymous in Business & Finance ➔ Credit
They've got you by your whatever the female equivalent of balls is. (Nipples?)
2006-11-11 06:31:30 · answer #1 · answered by something'srotten 4 · 0⤊ 0⤋
Contact the Better Business Bureau or, better yet, your state's Commerce Dept. Of course, one big factor is just how long you've owed this money - interest rates are charged every month so if your rates are 19% or more a month, it wouldn't take long to build up to $1800 because each month the interest rates are added to what you owe so each month the amount of interest goes up too.
2006-11-11 14:44:41 · answer #2 · answered by Judith 6 · 0⤊ 0⤋