My financee received a letter from NCO stating a debt from Bank of America. He did have a credit card through them and this is a valid debt. But in the letter it states that the Principal amount is: $980.75; Interest Amount: $650.89; Interest Rate: 0%; Other: $549.00; and Amount Owed: $2180.64
What I don't understand is the "other" amount. And the interest seems to be really high since this debt has not been in collections long. How do we go about finding out what this "other" amount is and to validate the interest rate.
Is the interest rate what the bank tagged on or is this someting NCO is trying to add to the debt? Any suggestions would be appreciated.
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