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Can a credit card company still continue to charge interest if the debt has been charged off?
Wiki User
∙ 18y ago
Yes, a "charge off" does not indicate that the debt is no longer valid. The creditor has several options on how to collect monies owed after the account has been charged off.
Wiki User
∙ 18y ago
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What is the difference between a service charge and a finance charge?
A service charge is typically a charge for a specific action that a company performs on an account or an order. A finance charge is an amount of interest that is charged on an amount of principal owed by a customer.
What is a finance charge?
A finance charge is interest charged by a lender on the unpaid balance of a loan.
Can a collection agency charge interest of 1030 to a charge off account that has been paid down to 700 from 4514 but you missed two months?
The collection company has probably charged interest sincethe day they received the account. The interest rate can differ from state to state on a charged off account. So yes, they can but that amount is not just for two months. You need to ask for a total breakdown on the account and see if the interest charged is correct.
What is another word for a borrowing charge?
The word is interest charged on capital.
Can interest be charged on interest?
Interest is usually not charged on interest and is called capitalizing interest. On some occassions banks may roll interest on a note and thus charge interest on the interest, but this is not advisable and is only done in certain situations that demand that it be done.
If a credit card account has been sold can the new company continue to charge interest?
in fact they do
What is the difference between a service charge and a finance charge?
A service charge is typically a charge for a specific action that a company performs on an account or an order. A finance charge is an amount of interest that is charged on an amount of principal owed by a customer.
What is finance charge?
A finance charge is interest charged by a lender on the unpaid balance of a loan.
What is a finance charge?
A finance charge is interest charged by a lender on the unpaid balance of a loan.
Can a collection agency charge interest of 1030 to a charge off account that has been paid down to 700 from 4514 but you missed two months?
The collection company has probably charged interest sincethe day they received the account. The interest rate can differ from state to state on a charged off account. So yes, they can but that amount is not just for two months. You need to ask for a total breakdown on the account and see if the interest charged is correct.
What is another word for a borrowing charge?
The word is interest charged on capital.
Can interest be charged on interest?
Interest is usually not charged on interest and is called capitalizing interest. On some occassions banks may roll interest on a note and thus charge interest on the interest, but this is not advisable and is only done in certain situations that demand that it be done.
How much is charged on a balance of 1250 at 19.49 APR compounded monthly?
If there is no repayment then the compound interest will continue growing for ever - becoming infinite. If there is repayment then the charge will depend on the amounts of repayment.
Can a credit card company close your account charge it off and still continue to add late fees and interest to the account?
they can if it contains a balance. if they charged it off and gave you a zero balance and a pay off letter then they cannot. If they closed the account and reduced the amount you owe you are still responsible for the payments including late fees and interest.
What is the maximum interest rate a finance company can charge on a 2002 used car loan in Florida?
In Florida, the highest interest rate that may be charged by a finance company for loans under $500,000 is 18% per annum. Be cautious, however, because there are no limits on the amount of fees that may be charged for the application or origination of the loan.
Do movie star planet VIPs get continually charged?
no, I am one and it does not continue to charge me.
Where is present EPC interest charged by SBI?
9% at present sbi charge
