i am late on payment for auto insurance what can i do.
No, a company can not charge a credit card without permission. This violation should be reported immediately to your credit card company.
My guess is that company was a collection agency? Never give anyone your bank info, or credit card info. If the company was a legitimate company you were doing business with and you did not authorize payment dispute the charge with your credit card company.
The term "charge off" is used when a company or creditor clears a persons account due to lack of payment at loss to the company. No further charges can be applied to the account.
A mortgage company usually has a set date that mortgages are due, i.e. the first of the month. Anytime payment is not received by the first it is considered late. However, most MC's have a grace period of 15 days; if it's not received in this time frame a late charge is assessed. If you mail the check on the 6th and it doesn't get to the company until the 17th you will be charged a late fee. The mortgage company must receive the payment before the grace period expires. So in essence NO they can't charge you if they receive the payment by closing time of the last day of the grace period. They CAN charge you if you make the payment after business hours, because it is not considered received until the next day, there is no one to process your payment if the business is closed.
"charge off" is an accounting term that has nothing to do with collection or amount owed or anything like that. They can repo a car if a payment was recently made as long as you are behind.
Yes
collection i believe is a company that sets you on a payment plan to make it easier for you to pay. charge off you will never beable to get credit it is paid off but you will never be able to get a loan To my knowledge, charge off means the business charged it off as a loss and collection means they are pursuing the person for the money or paying an agency to pursue the person for the money.
Common ones are - monthly interest, and late payment fees.
Don't believe you can, but they WILL NOT charge you unless you try to buy something.
payment
If the charge has not gone through yet, call your bank and tell them to deny payment. If the charge has gone through call the finance company and see who authorized the debit, if it is a standing authorization tell them to remove it / send them a letter doing so, and contact your bank and inform them to refuse future direct debits.
No...you need to call your credit card company and file a complaint.