Amount of "Charge-off" vs. Original Credit Limit
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Posted by Angie
(188.8.131.52) on September 07, 2002 at 12:35:49:
I have two Cap One accounts that have been charged-off
1. Charged off since 1/99
2. Charged off since 12/98
My question is this, the credit limits on these accounts were $300, respectively.
#1 High Credit Amount Reported was $253
"Write off" amount is $903
#2 High Credit Amount Reported was $344
"Write off" amount is $808
How much interest and penalties can a creditor add to the "outstanding balance", from when you default?
In addition, these were partially secured cards - $100 each.
Thank you in advance for your input.
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