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Amount of "Charge-off" vs. Original Credit Limit


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Posted by Angie (152.163.189.170) 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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