Hope Posted June 6, 2005 Report Share Posted June 6, 2005 I have a current CC that is WAY overlimit, due to excessive late fees and overlimit fees. I was making auto-payments $5 over the minimum amount when suddently they raised my interest rate, pushed me over the limit w/ finance fees,and made my minimum payment $10 more. So...I have been charged approx. $60 in fees ($29 each for late & overlimit) every month for the past year. I did not know anything was wrong - thought auto-pay payment was fine as always - until I started receiving phone calls from this predatory credit card co. stating that if I made 1 extra payment it would bring me current and avoid future fees. Well, I did and it never happened. many times. Now it has been a year since this started, and I have been making "extra" payments plus "regular" monthly payments of $30 /mo (on time) and am still being dinged w/ $60 in fees every mo. and am also being reported late to the CRA's! And the "balance" keeps growing, despite my calls and an angry letter re: teh fees. What should I do:? Stop paying so they charge it off and then offer to settle? Are there any other alternatives? This co. is notoriously horrible and I don't know what to do...any advice greatly appreciated!thanks,Hope Link to comment Share on other sites More sharing options...
credithelp Posted June 6, 2005 Report Share Posted June 6, 2005 If you have another credit card you could balance transfer enough to avoid future fees. If not one thing you could do is figure out how much over the limit you are, pay that amount plus any potential interest charges and then try to pay beyond that to make sure you get the balance way under the limit. If you dont have enough cash for that you may be able to get them to lower your interest rate which will make it easier to get the balance down.Out of curiosity, which issuer is it? Link to comment Share on other sites More sharing options...
Hope Posted June 6, 2005 Author Report Share Posted June 6, 2005 It is Household the thing is, they already have me as > 120 days late despite my reg on time payments because w/ their fees I did not make their "minimum payment" on time. So paying them over $1000 in fees won't do me any good - sure, I would avoid future fees but it still looks awful on my report. And actually, I don't have a way to pay that "minimum payment" now even if I wanted to.A lawyer friend of mine suggested I stop paying so that they charge it off and at least the debt won't get too much bigger. Right I just pay them $30/ mo and they charge me $60 in fees plus interest, plus, it is reported bad on my report. I feel totally screwed I was even considering a credit couselign palce until I heard the horror stories about how they operate on this board... Link to comment Share on other sites More sharing options...
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