M
M. A .D
Guest
Help? My husband had a credit card with Keybank that went over the $500 dollar limit. Before we knew it there was already $430 in interest tacked onto the balance. We tried to set up lower payment arrangements they said no. We started paying $250 for about 3 months, we just wanted the debt gone. When we got our statement back the balance hardly moved. We were told that was because a majority of interest was being taken off do to being over the limit. So we stopped paying. Now it's been quite awhile and the card has been sent from collections to a Law firm. They now say the $930 balance is $1891 do to extra interest. We wrote back appealing the balance and said we know, from our last statement received from Keybank, that the balance we owe is $930. We said we could pay no more than $100 a month with no extra interest tacked on. We sent a copy to the judge. The law firm sent back saying they will allow $125 a month on the $1891 balance with 24% APR. Can they do this? What should/can we do?