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
Partner at
Tischhauser Law Group
2 Awards
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
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