- Centurion Member
- Posts: 188
- Joined: Tue Jan 10, 2012 7:11 pm
- Location: New York, NY
As far as the interest is concerned, if that wasn't you're rate before your crisis hit, you should know that most creditors reserve the right to hit you with a higher rate if you're so much as a month late. And that can keep it there. As far as your payment goes, if that wasn't the minimum you would have to pay based on your balance to begin with, that may be something that particular bank requires if you miss some payments. I am pretty sure that would be outlined in your contract with them when you got the card. I'd research to see if they had that requirement since you signed up for the card. If that is the standard minimum payment for your balance, you're kind of stuck.
Either way, once they charge off, it's pretty much all she wrote. Your score will likely take a 40-60 point hit and the charge-off will stay on your report for seven years. My sympathies and good luck.
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