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Can a charged off auto loan still be reported with a balance due and accrue finance charges on credit report?
Wiki User
∙ 13y ago
Yes it can. So long as the debt has not been charged off, intrest continues to mount. As long as there is a balance, and the lender has a hope of getting you to pay, he may leave it open. It also helps to get the balance higher so suing you becoems more feasible.
Wiki User
∙ 13y ago
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What is the journal entry for this transaction Added 460 to mendosa customer balance for finance charges on unpaid balances?
debit finance charges 460credit balance payable 460
Can a interest be charged on a late fee?
No. But what will be charged on a late fee, will be reflected on something known as your your finance charges. Finance charges will go up if you are late making a payment on your credit card.
What is a finance charge?
A finance charge is interest charged by a lender on the unpaid balance of a loan.
What is finance charge?
A finance charge is interest charged by a lender on the unpaid balance of a loan.
If you close a credit card containing a balance in an attempt to pay it off faster how does this affect your finance charges?
It won't. The finance/interest charges will still be applied to the balance in accordance with the original lending agreement.
When a finance charge is calculated on the average daily balance when should consumers pay the bill to keep finance charges at a minimum?
Paying the bill as early in the payment period as possible will make the average daily balance lower and therefore minimize the finance charges.
Monique's previous credit card balance is 199.26 and she has a monthly finance charge of 1.5 How much will the credit card company assess in finance charges on this balance?
$2.99
Is there a legal limit to late fees in Michigan?
Is there a legal limit to finance charges that can be charged in the state of Michigan?
Why it is wise to pay the full balance on credit card?
It is wise to pay the full balance on credit card because you will not entail finance charges and other fees. If you pay only the minimum, your next balance will increase due to the finance charges and fees. At the same time, it can build your credit score. I always pay the full balance on my credit cards.
Which of these is not a way in which credit card companies asses finance charges?
some place a fee on the average yearly balance
Which of these is not a way in which credit card companies assess finance charges?
some place a fee on the average yearly balance . ( A+ )
What is the meaning of finance charges IPP?
Finance charges-ipp
