0
You had a credit card with Household Bank that went into collection you've been paying the collection company every month for 2 years but your balance keeps going up what can you do?
Wiki User
∙ 18y ago
What is the Annual Percentage rate set at? Are you making more than the minimum monthly payment? Is the collection agency charging any monthly fees? If you are making a $10.00 a month payment and the finance charges are $8.00, only two dollars is being applied to wards the balance, each month. Check to see how much of your monthly payment is going to the finance charges and then increase your monthly payment to cover the minimum monthly payment and finance charges.
Wiki User
∙ 18y ago
Add your answer:
Earn +20 pts
How do I transfer the balance on my credit cards?
You will have to talk to you credit card company. They will be able to assist you in transferring your balance on your credit cards.
How do you raise your credit score after paying a collection company?
No
What is outstandanding balance in a credit card?
The outstanding balance is very simply the amount of debt that you have charged on the credit card. You owe that amount to the credit card company.
Can a credit card company reduce your credit limit as you bring your balance down?
Yes. All of the credit cards are reducing credit and it doesn't seem to have any thing to do with the balance. They are just protecting themselves.
Should payment be sent to the credit card company or the collection agency?
If you have a collection agency working for the credit card company then it is them you need to make payments too as it is now too late to pay the credit card company. They have sold the debt to the collection company and you will have to pay any charges on top of the debt now also. Try not to let it get that far in future, but that's easier said than done.
If you stop paying on a collection account that no longer shows on your credit report can the collection company report the unpaid balance to the credit bureaus?
Yes they can and they probably will. if you are concerned about your credit profile, it would not be a good idea to stop paying.
What is the usual action of credit card company's toward nonpaying creditors?
Well after 6 years of not paying a dime to household bank the account has been charged off and the collection company is sueing me.
What is Household Bank?
Household bank is a lending company. They issue credit cards and prepaid debit cards for people with bad credit or no credit.
An unrecorded credit memo for collection of a note?
added to checkbook balance
How do I transfer the balance on my credit cards?
You will have to talk to you credit card company. They will be able to assist you in transferring your balance on your credit cards.
ABC Company has an average collection period of 60 days Total credit sales for the year were 3000000 What is the balance in accounts receivable at year-end?
$500,000
Is accounts payable a debit or credit?
Accounts Payable is the amount which is payable by company for the merchandise purchased by company but payment is due in future, as it is the liability of company so like all liability accounts it has credit balance as normal balance.
Why balance sheet is not an account?
An account is a record that represents a single thing to the company. Balance sheets represent multiple accounts. Accounts can at one time only be either a debit or a credit. A balance sheet is a collection of certain accounts presented in a statement, and includes both debit and credit accounts.
When does accounts receivable have a credit balance?
If an account has a credit balance the customer must have overpaid on their account or a credit was issued by the company and posted to the customers account, resulting in a credit or negative balance.
How do you raise your credit score after paying a collection company?
No
Can a sold credit card account be collected on if the account is reported as charged off with a zero balance?
It may be zeroed out w/ the orig company because they sold it to the collection people. DO NOT PAY COLLECTION AGENCIES ANYTHING!! google "fair credit act". lots of info
An unrecorded credit memo for collection of a note should be?
added to bank balance
