Charge off is an accounting term. You still owe the money. Make them an offer IF the debt is NOT past the SOL. You say they DONT have a judgment YET so it sounds like it may be OLD. Its strange they would ask for 1/2 the balance if they don't have a judgment.
..looking for more clarification on this. If the car payment that supposed to be a repo in Illinois is showing Charged Off on credit report. Bank recently called looking for the owner and wondering where the car is at after about 18 months or more. What options is available to work this out with them at a fair cost?
it's probably not the bank calling, if it shows on your credit report as charged off they more than likely sold it or transferred it to a third party. third parties will go through any means necessary to try to obtain the money, so i would some research and ask a lot of questions first before you pay any money. and if you decide to settle the debt bargin for complete removal from your credit report and nothing less. you have to get something out the deal becasue all they want is your money.
added to the balance
$455.87, assuming Sara has not made any additional charges on her card since receiving the previous credit card bill. When a credit card company assesses a finance charge, the finance charge ($6.74) is added to the existing balance ($449.13) to arrive at a new balance ($455.87). As an aside, if possible, Sara should revolve (carry) her balance on a credit card that charges a lower rate since the $6.74 finance charge represents 18% (17.7%) on an annualized basis.
Yes. By definition whenever your balance goes over the limit, whether it's due to a purchase, late fee, or regular finance charge, the credit card company can charge you an overlimit fee. But you may call the company to try to get it waived.
No, a company can not charge a credit card without permission. This violation should be reported immediately to your credit card company.
If you signed your contract, more than likely the finance company is not going to change the APR rate. But, on the other hand if the finance company is a direct lender.. then you can try to refinance with the current lender or another lender to get a lower APR rate - depending on your credit rating at the time.
It will go on your credit,
Finance charges are applied to credit card balances that aren't paid before the grace period. Different credit cards calculate finance charges in different ways.
Continental Finance is one of America's leading originators of credit cards for consumers with less than perfect credit. Whether you have fair credit, poor credit, or no credit at all, they have a product that is right for you.
Minimum Finance charges have nothing to do with MasterCard and everything to do with your Financial Institution. Example of Financial Institution "US Bank". Any Credit Card, regardless of type, is going to have a minimum finance charge. You can find out how much the charge is by reading your Card member agreement. You can avoid interest or the minimum finance charge by paying the full balance on you credit card bill.
Contact your bank or credit card company.
Calculate the finance charge on a credit card balance of 3,299.19 at a monthly rate of 1.2%.
You can get a business line of credit by going to the bank and applying for a line of credit. You can also get a line of credit by going to a finance company.
Finance Credit is a company that no longer operates, having gone bankrupt in 2002. There was much scandal over their closure, due to a criminal investigation into siphoning funds. The founders of the company are currently serving prison time, in Norway, where the company originated.
When Ellen drove over the border to Canada to go to the movies, when she bought her ticket, she incurred a finance-charge for currency conversion on her credit card.