2007-02-10 06:02:26 · 8 answers · asked by babygirl 1 in Business & Finance ➔ Credit
It will screw up your credit, badly.
That fee will assess interest charges over and over until you pay it. If you don't pay your balance monthly, you will go over your limit and your interest rate will increase. It's a never ending cycle.
ST
2007-02-10 06:17:43 · answer #1 · answered by Anonymous · 0⤊ 0⤋
You will be assessed a "late fee" on the original late fee and two additional charges--a finance fee on whatever the amount due and interest on top of everything. This will continue for several months until the total amount of late charges is over $200.00..
The account maybe cancelled at this point(or if you closed because of the dispute). The card company will then turn your assessed fees to a collection agency who will procede to send you letters (and telpehone calls) asking to pay by settling for a lesser amount of what they claimed is owed.
If what you owe is large enough the collection agency might take you to small claims court; if not you will be in for an extended period of harrashment by the collection agency.
2007-02-12 14:28:19 · answer #2 · answered by Nyteslayer 6 · 0⤊ 0⤋
Simple. They just add a high penalty fee and high interest to your next periodic bill. After a few months, they revoke your credit card, and unleash the hounds of hell on you.
You will become very popular: threatening mail, phone calls, maybe even personal visits. People will deliver court subpeonas upon you. Your pay check may be attached. In the "good old mafia days" these visitors usually carried baseball bats to bust your knee caps.
Do yourself a favor: pay the bill, or flee the country. There are no extradition treaties with Antartica.
2007-02-10 14:15:13 · answer #3 · answered by Puzzleman 5 · 0⤊ 0⤋
They will continue to increase and you will have to pay them eventually or the credit card company will send you to a collections and the get a judgment and garnish you wages thus messing up your credit.
2007-02-10 14:09:22 · answer #4 · answered by ? 7 · 0⤊ 0⤋
I would call the credit card company, state your 'sad' story of how it must have been slowness of the postal service.
If you get a 'nice' representative, they WILL remove it from your
bill for you, especially if it is the 'first' time.
2007-02-10 14:13:11 · answer #5 · answered by Anonymous · 0⤊ 0⤋
Then they will just keep adding up. Pay they off asap....its also a good way to screw up your credit
2007-02-10 14:09:43 · answer #6 · answered by Anonymous · 0⤊ 0⤋
They will add it to your new balance.
If you dont pay, they will also close your account after a certain amount of time
2007-02-10 14:37:27 · answer #7 · answered by lisa s 6 · 0⤊ 0⤋
Unless you call and get it removed, it will just get worse. I advise you to pay it asap.
2007-02-10 14:12:26 · answer #8 · answered by Feyandjeff 2 · 0⤊ 0⤋