I live in Texas and I have an outstanding balance

I live in Texas and I have an outstanding balance of nothing but late fees and interest that has accumilated now I want to pay some on it. What I need to know if interest can be charged on a charged off account. It has gone to a an attorney who wants payments thier way and they are telling me interest is being charged on it which I have been told is against the law. Can you tell what you know it would be helpful thanks

4 Answers

Negotiate with your creditors, tell them about your financial hardship so that you can be put on a hardship plan through which you can repay with ease.


Yes, the interest rate can be charged on the charged-off acount. It is perfectly legal. You'll have to pay it off. 


My previous poster is right. Try to consolidate your debts on your own. It will help you to save your money. Look at this page to know how to do it yourself:
http://www.debtconsolidationcare.com/diy/#debt-consolidation


As far as I know, interest can be charged on a charged off account. You can try to consolidate the debt. In order to do so, you can negotiate on your own or you can contact a debt relief company and take their help in getting rid of the debt.


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