QUESTION
Can the amount on a closed off account increase ?
Asked on Apr 06th, 2018 on Debtor and Creditor - Florida
More details to this question:
Vehicle purchased at 26% interest rate. Fell behind and decided to do a voluntary reposesion. Santander put a closed off charge of $13,000 on my credit report. I disputed the inflated amount and they really opened the account and added $300 to the amount. The Kelly blue book value on the truck isn't even that much. It's a 2010 Nissan frontier with 130k miles. Is this legal? Having a hard time understanding how I can be liable for this amount when the bank has since been given the property and resold it for another profit. Please help.
1 ANSWER
Consumer Debt Collector Harassment & Abuse Attorney serving Tampa, FL
at
Tischhauser Law Group
Update Your Profile
You owe what you owe at the interest rate contracted for unfortunatey. Giving the car back does nothing to stop the accrual of interest on a debt you havent paid off.
Answered on Apr 19th, 2018 at 12:38 PM