Debt Consolidation Forums Collection agencies and creditors forums

Can my creditor increase the interest rate on credit card if I get out of the debt repayment plan?

member profile picture
Posts: 1
Credits: 19.95
[Donate]

I have enrolled in a debt settlement program just last month. Can my creditor increase the interest rate if I get out of the debt repayment plan.




They can pretty do whatever they want if you are not paying on their terms

Sub: #1 posted on Fri, 09/16/2016 - 06:51

SOAPLADY SOAPLADY
Moderators Cum Industry Expert
(Posts: 17214 | Credits: 4746.7)

Your debt settlement company might have negotiated your outstanding credit debt into a lower amount with the credit card company. So, if you want to get out of that debt repayment plan, there's a greater chance that your credit card issuer may increase the interest rate.

Sub: #2 posted on Fri, 09/16/2016 - 19:15

tiarajoseph11 tiarajoseph11

(Posts: 326 | Credits: 45.18)

Attachment
More information
  • Files must be less than 500 MB.
  • Allowed file types: txt pdf jpg jpeg png.

Share post

Page loaded in 0.953 seconds.